Up till now, the fighting has been going on for over 100 days, with the two warring sides still in an offensive and defensive stalemate. Questions about this ongoing crisis can be listed in a long line, most of which no one can answer at this time. Yet among all the uncertainties, one thing is certain: what the Russian troops crossed on February 24 was not simply the land border between Russia and Ukraine, but rather more symbolically, the River Rubicon of the post-cold war international order.

Secretary of State Antony Blinken delivered his speech on the Biden administration’s approach to China last week. While he laid out a laundry list of China-U.S. policy issues, the administration must now actively fashion an integrated strategy to deal with the ongoing challenges presented by Beijing.

Views differ on what triggered the current conflict. But whatever the pros and cons of NATO expansion, the conclusion must be that China, not Russia, is the greater long-term, structural and potentially lethal challenger to America.

The ongoing Ukraine conflict may be the turning point that observers and politicos alike speak of to shift the focus of global leadership away from American hegemony, and towards a multipolar paradigm.

The demonization of China that began during the Trump presidency has persisted. Bilateral relations are morphing from a competition over interests to a struggle over values and identity. The near future looks bleak, but there’s hope further down the road.

The domestic and foreign policies of the United States will both return to the pragmatic tradition, partly because of the diverse nature of the country. At the same time, pragmatic diplomacy in a pluralistic world will improve international relations.

Worries by the United States that China will take over its leadership role are based on a serious strategic misunderstanding. The road ahead for the international power structure as it shifts to a multipolar pattern may be long and difficult, but the prospects are promising.

A series of policies in the U.S. has made life much more difficult for China concepts stock companies. CCS listings in the U.S. are emerging as the next big risk, and the adoption of the variable interest entity structure, or VIE, is storing up trouble.

As US President Joe Biden’s administration implements its strategy of great power competition with China, analysts seek historical metaphors to explain the deepening rivalry. But while many invoke the onset of the Cold War, a more worrisome historical metaphor is the start of World War I. In 1914, all the great powers expected a short third Balkan War. Instead, as the British historian Christopher Clark has shown, they sleepwalked into a conflagration that lasted four years, destroyed four empires, and killed millions.

Maintaining strategic security and its stature as a major global power are the country’s priorities. While its economy is relatively weak, Russia’s military power, its experience and its influence in global affairs means that it will continue to be an important player in shaping the international landscape.