Substantial political controls over Chinese businesses may prove incompatible with a creative, innovative economy.

There is no country that could defeat the US, except the US itself.

2018 is proving to be a tense and complex year for relations between the U.S. and China. British historian Herbert Butterfield came up with five enduring lessons of history which remind us of the fragility of international order, the incalculable consequences of war, and the temptations of power. As both American and Chinese diplomats negotiate the intricacies of today’s questions, they would do well to keep these lessons in mind.

But no one should be tempted by exaggerated projections of Chinese power. If the US maintains its alliances with democratic Japan and Australia and continues to develop good relations with India, it will hold the high cards in Asia. In the global military balance, China lags far behind, and in terms of demography, technology, the monetary system, and energy dependence, the US is better placed than China in the coming decade. In the Soft Power 30 index, China ranks 25th, while the US is third.

We should join hands in building a new model of international relations and community with a shared future for mankind. Otherwise, we might all be replaced by artificial intelligence someday.

China, the United States, and Japan are putting new emphasis on expanding their amphibious military capabilities, to both seize and defend strategic islands if needed. We may be heading towards an amphibious arms race in the Western Pacific.

Going forward it is important both for the U.S. to clarify specifically what sort of hegemony it opposes and for China to be careful that its quest for hegemonic leadership does not move towards bullying and empire. Both moves are necessary if the world’s two great powers are going to negotiate the strains of shifting power.

Companies around the world are already racing to develop the necessary 5G network technology, leading to new technological tensions between the U.S. and China. Given the continued demand for high-speed wireless connectivity and mobile devices, there’s a lot at stake for the companies that get 5G technology right and ultimately end up driving its deployment.

Fears of serious conflict between China and the U.S. are the result of hasty conclusions, superficiality, one-sidedness, and claptrap.

Competition can be healthy for both China and the US, provided it doesn’t get out of hand.