The coronavirus has only deepened U.S.-China competition and could weaken America’s global standing if Washington continues to stubbornly adhere to “America first” and forgo its long-standing international leadership.

China-U.S. relations could turn for the worse when the epidemic passes. But there’s a glimmer of hope. If they take prompt action to ease the tension and cooperate in mitigating the health crisis, they can avoid what might be a devastating geopolitical conflict in the post-pandemic world.

The U.S. has long reigned supreme in global finance, but a new challenger to its hegemony has emerged. China’s attempts to lessen its and the world’s dependency on the dollar and especially America’s willingness to abuse its stewardship of the global financial system have influenced a dangerous weaponization of financial networks that promises a rocky road ahead for both countries.

The United States has taken unfair advantage of the ongoing health emergency to damage China, but the strategy hasn’t worked. Cold War thinking has failed to resonate with U.S. allies, much less damage the Chinese economic and political regimes.

To credibly claim that its “America First” approach is not isolationism, the United States should avoid excluding China from the industrial chain. Global prosperity and stability be ensured only by staying connected.

From Obama to Trump, US policy towards China has not been productive. The current administration should follow a “humble” foreign policy and regain credibility on the world stage.

Given the high stakes, both China and the United States have compelling reasons to put aside their differences and work together. This would set the tone for solving other challenges as well.

Many factors are aligning to dim the future, but it’s important to keep trying. While the two rivals are stuck in a mode of competition, suspicion and hard bargaining, the cliff can still be avoided.

The coronavirus crisis presents an opportunity for collaboration to the U.S. and China. It is time the two nations abandon their habitual defamation of one another for political gain and consolidate their efforts to stop this crisis in its tracks.

The hypocrisy of US Secretary of State Mike Pompeo in his hawkish criticism of China displays the fundamental undiplomatic character that has defined the Trump administration even in the face of the globe’s most recent crises.