About Doha round global trade talks, Barshefsky said, "it will be good to see Doha conclude in a positive way. All countries have to be flexible."

Talking about the agriculture disputes between developed and developing countries, the trade expert said that subsidies by the U.S. and Europe to agriculture must come down substantially. Export subsides should be eliminated and domestic subsidies should be cut very dramatically.

"Unless that happens, the trade effect for poorer countries will not be particularly significant at all. And that will be an unfortunate outcome for something called 'the development round', she said.

Recalling the negotiation for China's entry into the WTO, Barshefsky said that "China is a very, very tough negotiating partner."

"China and the U.S. share a very important common characteristic, and that is we are practical people," she said.

Because both the Chinese people and American people share this common characteristic, she said, "we were often able to overcome differences, even political differences, by simply coming up with a practical solution that benefited both sides."

"I think the Chinese side particularly excelled at this, but the U.S. side did as well. So, even on complicated issues, we could find a situation to come to agreement, and that really led to the kind of historic outcome that was achieved," she said.

Barshefsky mentioned that "trade is the foundation of the U.S.-China relationship. It causes friction, of course, but also great benefits for both countries."

"I think the challenge for the U.S. and China is to learn how to cooperate in a meaningful way," said the former U.S. top trade official.

Now a Senior International Partner at Wilmer Cutler Pickering Hale and Dorr LLP, Barshefsky said that the famous law company represents many, many American companies and European and Japanese companies investing in China.

"We are very actively involved in China," she said.

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