"the Chinese and American people" VS "the Chinese and American peoples"

Question

1. The Chinese and American people are both great people.
2. The Chinese and American peoples are both great peoples.

Which kind of wording is good?

Answer 1

People when meaning the population of a country or nation is a countable noun, thus:

2. The Chinese and American peoples are both great peoples.

people noun [ C ]

All the men, women, and children who live in a particular country, or who have the same culture or language:

The French are known as a food-loving people. ​

a society:

Customs similar to this one are found among many peoples of the world.

People