In 10th anniversary year of the Belt and Road Initiative proposed by President Xi Jinping, the international landscape is subject to changes like never before. China’s adaptations have proved successful and hold promise for future world peace.

The debate over the difference between tactics and strategy is as rich as it is enduring. In his seminal 1996 article in the Harvard Business Review, Harvard’s Michael Porter tackled this issue head on. While his focus was business, his arguments can be applied much more broadly – including to today’s Sino-American rivalry.

China's economic growth has slowed while American politicians continue to advocate for protectionism, which is concerning as history shows that free markets are key to prosperity. China's struggles underscore the need for more economic freedom, not less.

Tumultuous developments in Pakistan have created a less welcoming environment for foreign aid, as China’s generous investments into Pakistan seem to have come to a grinding halt.

Incentives from the government are positive effect. In the next stage, the import and export power of private enterprises will be unleashed. This, in turn, will stimulate private investment. All factors point to a full economic recovery.

The United States has seen consistent monthly growth throughout the year, but certain risk factors are accumulating. The future trajectory of the U.S. economy will depend on the relative development of economic growth drivers and the potential risks. China must respond thoughtfully.

Judging from a lengthy slate of indicators, discounting China’s position in the world economy over a momentary economic slowdown would be a mistake. Failing to understand China’s recent progress and future ambitions could lead the United States to squander its own long-term advantages.

Through sincere efforts by the U.S. and China, it’s possible that the decline in trade will bottom out this year. Strong business relationships can once again serve as a stabilizing factor in the overall relationship, and inure to the benefit of our two peoples and the world.

US President Joe Biden’s recent executive order restricting American investments in Chinese semiconductors, microelectronics, quantum information technology, and artificial intelligence marks another escalation in the Sino-American tech war. In the context of the two superpowers’ intensifying geopolitical rivalry, the chances that this conflict will be resolved anytime soon are virtually zero, to the detriment of the global economy.

The Chinese economy is underperforming relative to its growth potential. Not only are investment and consumption demand weaker than hoped, but the country is facing the challenge of two Ds: deflation and debt. While consumer-price inflation is close to negative territory, producer-price inflation has already been negative for a year. At the same time, the private and public sectors have accumulated massive debts, owing to higher spending during the pandemic and the broader response to the easy-money conditions of previous years.