Washington’s economic re-engagement with the global south is largely driven by its desire to counter Beijing’s growing clout. Trade between China and other developing countries has flourished, and Chinese investment in other developing countries has multiplied. All this has caused serious concerns in Washington.

Washington has recently made attempts to repair its relationship with Beijing, but with limited success. As the 2024 U.S. presidential campaign approaches, Chinese officials should seek to calm ties involving the U.S. and other Western states.

The recent ASEAN Foreign Ministers Summit demonstrated the geopolitical importance of ASEAN in the Indo-Pacific region. Key topics discussed included the Myanmar crisis and South China Sea disputes, with global actors seeking to strengthen their relations with ASEAN amidst rising regional tensions. The summit highlighted ASEAN's centrality as a platform for addressing pressing concerns and fostering unity in the region.

America’s Indo-Pacific Strategy is not only at odds with the regional vision to which ASIAN is committed but it affects the region’s development environment. As a result, ASEAN will steer a middle course to protect its central role.

Despite is softer sound when compared with decoupling, de-risking will not enhance U.S. national security. Unexpected consequences will follow as countries grow more cautious in choosing trading partners. Nor will de-risking enhance U.S. competitiveness. Rather, it will hinder innovation and suppress productivity.

Treasury Secretary Yellen's visit to Beijing aimed to promote dialogue and address sticking points. While the meetings were constructive, they didn't bring any new proposals, and significant challenges remain in resolving outstanding issues between the two countries.

Dialogues in China show America’s orientation toward “on-demand cooperation,” which is most likely to bear fruit in the green sector and with climate change. It may prove to be a starting point for the recovery of the relationship.

Tension between China and the U.S. is at a precarious point, the renowned diplomat noted, saying the trajectory of the relationship must be altered. In the short to medium term, there are still a significant number of opportunities.

The United States needs to recognize that global hegemony is not sustainable. It should stop clinging to the postwar structure, with itself in the dominant position, and should learn to play a more ecumenical role in a multipolar world.

Frequent high-level contacts with China may be making a tactical difference for the United States. Tensions have eased slightly. However, the U.S. continues to pursue its broader strategy of containment. As elections approach, the Biden administration has little room to maneuver.