With the recent conclusion of the US presidential race, China-US relations stand at a pivotal juncture. In the past few years, the US has adopted a “strategic competition” approach to China, attempting to exert pressure across multiple domains, including economics, technology, and security. This approach, however, has largely failed to yield the intended results for the United States. Instead, it has intensified frictions between the two nations and disrupted the global supply chain, highlighting the need for a policy reevaluation. The new US administration now has an opportunity to recalibrate its China policy to foster a more stable and mutually beneficial relationship. By addressing the shortcomings of the current approach, there is a possibility of creating a more sustainable partnership between two of the world’s most influential economies.

Globalization has led to deep interdependence between the American and Chinese economies, making complete “decoupling” not only unrealistic but potentially harmful to both sides. American businesses and consumers are experiencing the consequences of high tariffs and supply chain challenges, exacerbating inflation and putting pressure on the economy. The trade war, launched under the previous administration, aimed to bring manufacturing back to the US. However, it instead increased costs for American companies without achieving significant reshoring of production.

China remains a vital manufacturing hub and a key market for US capital and technology. Severing economic ties would likely backfire, damaging American companies’ access to a vast market and driving up costs for consumers. Instead of disengaging, the US would benefit from rethinking its tariff strategy and working with China to establish trade agreements based on mutual benefit. Reducing tariffs could alleviate inflationary pressures, stabilize market expectations, and provide American consumers with more competitive options. Shifting from a punitive to a collaborative trade approach could help avoid further economic setbacks and enable both countries to leverage each other’s strengths for long-term growth.

The technological competition between the US and China has been a central theme in recent years, with the US attempting to block China’s access to key technologies, particularly in the semiconductor industry. While the US seeks to maintain its technological edge through restrictive measures, this “small yard, high fence” strategy has its limitations. The focus on restricting China’s access to American technology may, in fact, isolate the US from a growing global innovation network and impede collaborative scientific progress.

China has responded to these restrictions by increasing its investments in independent research and innovation. In fields such as semiconductors, artificial intelligence, and green technology, China is making significant strides, highlighting the resilience of its tech sector even in the face of external pressure. Rather than attempting to restrict China’s growth, the US could pursue a new model of technological engagement based on healthy competition and collaboration. Strengthening academic and scientific exchanges between the two nations could stimulate innovation, foster breakthroughs, and create a framework for fair and balanced technological cooperation. This approach would allow the US and China to compete constructively, leveraging their respective technological strengths for mutual benefit rather than rivalry.

There are several pressing global challenges where China and the US have significant potential for cooperation, notably in climate change, public health, and international security. The Biden administration made some headway on climate initiatives, and there is an opportunity for the incoming administration to deepen this progress. As two of the world’s largest carbon emitters, China and the US bear a unique responsibility to combat climate change. By working together on emissions reduction strategies, clean energy technologies, and sustainable development initiatives, the two nations could have a substantial positive impact on global climate outcomes.

Public health is another field ripe for collaboration. The COVID-19 pandemic underscored the importance of global health security and the need for cross-border cooperation to manage future health crises. Both the US and China could benefit from jointly addressing global health infrastructure needs, pandemic preparedness, and disease control efforts. Collaboration in these areas would not only improve the health outcomes in both countries but would also contribute to the broader global health landscape, benefiting other nations and populations worldwide.

Similarly, international counter-terrorism efforts would be strengthened through US-China cooperation. Both countries share an interest in combating terrorism and ensuring stability in regions susceptible to extremist activities. Joint efforts to exchange intelligence, support counter-terrorism initiatives, and enhance regional security frameworks could serve as a stabilizing force amid global uncertainties. A renewed focus on collaborative global initiatives would signal a shared commitment to addressing issues that extend beyond national borders and demand cooperative action.

For the new US administration, the challenge lies in reframing the relationship with China from a zero-sum rivalry to a balanced engagement grounded in dialogue and cooperation. Competition between the two nations is inevitable, given their status as global superpowers, but it need not be adversarial. A cooperative approach can acknowledge differences without allowing them to derail the broader relationship. Indeed, while strategic competition may persist, it should not preclude efforts to find common ground where mutual interests align.

In the economic sphere, abandoning the mindset of “decoupling” could pave the way for meaningful economic cooperation that benefits both countries. A recalibration of trade policies could reduce costs for US consumers, mitigate inflationary pressures, and allow for a more stable economic relationship with China. In technology, shifting from a confrontational stance to one that encourages shared growth and innovation would help both nations remain at the forefront of global technological advancement. Furthermore, fostering collaboration in areas like climate change and public health would enhance both countries’ standing on the world stage and underscore their commitment to shared global responsibilities.

The future of US-China relations will require a willingness to embrace a balanced approach that allows for both competition and cooperation. By engaging China in a manner that respects mutual interests, the US can avoid the pitfalls of confrontation and contribute to a more stable international order. The world is watching how these two global powers will navigate their relationship in the coming years. A cooperative US-China partnership could not only benefit both nations but also set a constructive precedent for addressing the challenges of an interconnected world.

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