China’s Rise, the Decline of the West, and Deglobalization

Watch the replay here. 

Key takeaways: 

• The original Cold War between the Soviet Union and the US was characterized by stark ideological differences in economic and social values as well as the future of international order. Today, however, Washington and Beijing have a deeply institutionalized relationship.
  
  
• There will be extended periods of turbulence in US-China relations, particularly due to issues between Beijing and New Delhi, Hong Kong, Taiwan and the South China Sea.
  
  
• Australia, Japan and India are supporting US regional engagement. While Beijing may interpret these partnerships as a strategy to contain it, regional democracies view China’s actions as an increasing threat to democracies in the Indo-Pacific.
  
  
• Though the chance of armed conflict between the US and China is low, realists and hawks are operating in both the CCP and Trump administrations. Both the US and China must be transparent and take more responsibility for assertive actions.
  
  
• Indo-Pacific countries are increasingly worried about supply chain security due to the US-China trade dispute and Covid-19. Australia, Japan and India have begun discussing a joint supply chain resilience initiative.