Many observers believe the US has already begun a new cold war via comprehensive containment of China. But in recent decades, US elites have debated back and forth on the positive or negative implications of Chinese power. Today’s tensions are serious, but not unprecedented.

The US-China trade truce is welcome news, but far from a resolution. To overcome the various uncertainties and structural challenges within the US-China relationship, we should turn this truce to a longer-term effort to restore trust, normal economic relations, and a strengthening of multilateralism.

The stark present of Sino-US distrust is a far cry from the nostalgic past of China-US cooperation since the Nixon era. Nonetheless, China’s deepening domestic reforms and revised strategic outlook bode well for the future — but will the US get the message?

Amid trade war and perceived China-US disagreement, silver linings are often ignored. But outside of Washington and Beijing, Sino-US cooperation is thriving at the local and private level, while China’s commitment to reform provides a stable foundation for the bilateral relationship.

The trade war is only the latest twist in a tangled China-US relationship. For the two sides to find common ground, the US must accept China’s rise to superpower status on an equal footing, and China should acknowledge the post-World War II order that the US built.

Whining about China and starting a unilateral trade war is not a winning strategy. If China stumbles, the world will tumble.

Trump’s belligerent style in waging the trade war overlooks China’s history of stiff resistance against stronger foes. The US-China relationship is the world’s most important, and if we don’t get it right, the chances of a violent outcome increase significantly.

Just when a trade agreement between the United States and China appeared to be in sight, negotiators found themselves back at square one. The immediate reason for the disruption was China’s insistence on a substantially rewritten draft agreement, which, according to US President Donald Trump’s administration, reneges on previously agreed terms. But the root cause of China’s changes to the draft – the reason behind its reluctance to meet US demands – lies in a fundamental miscalculation by the Trump administration.

As America’s China policy turns from engagement to competition, Beijing must face facts: Trump or no Trump, the US has reached bipartisan consensus on containing China. How should Beijing respond? Where will the current confrontation lead? In crafting a new strategy towards the US, China must consider the ultimate goal of its rise, and how America fits into the big picture.