Prime Minister Tony Abbott says the Asian century can also be the American century.
Mr Abbott on Tuesday addressed an American Australian Association business lunch in New York.
China is often seen as an economic threat to the US and American military strategists are concerned about the Asian giant throwing its weight around, particularly in relation to disputed territories.
Mr Abbott said the rise of China and the growth of its middle class had been good for the wider world.
"A rich China doesn't mean a billion competitors so much as a billion new customers," Mr Abbott said.
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"So we should be fundamentally optimistic about the future because these are all people with much to lose if things go wrong."
He said he was looking forward to the Asian century.
"It will be an American century too, because America is a Pacific power as well as an Atlantic power.
"Asia needs America involved. Asia needs America to succeed."
Mr Abbott also used the lunch to appeal to American investors to look at taking a stake in future public private partnerships to build roads.
