With President Joe Biden’s Asia tour and recent remarks by Secretary of State Antony Blinken, the United States has begun putting a Cold War notion into practice once again. But what has failed in the past will not likely succeed in the future.

There was nothing new revealed in the U.S. president’s visit, other than launching Indo-Pacific Economic Framework. Roping in Japan and South Korea and declaring that the U.S. would “intervene” in a Taiwan conflict, all amounted to old news.

The U.S. secretary of state restated and reinforced the Biden administration’s approach, proposing an “invest, align, compete” strategy for success over China. The speech revealed significant clues about the features of America’s basic strategic game ahead.

The goal of the United States in creating the IPEF is to gain an asymmetric technological advantage over China and to create an environment for long-term competition. It wants a new rules-based Indo-Pacific order forged in its own image.

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.

Differences over the rules for world affairs will not be resolved easily and won’t be resolved in favor the U.S. Countries are interdependent, and a divided world serves no one’s best interests.

The Ukraine crisis has demolished many boundaries. It was out of control from the beginning, since Russia, Ukraine and the U.S. are all unwilling or unable to compromise. Time will tell, though it may not indicate which side to take.

The concept, introduced by President Xi Jinping, can inform China-U.S. cooperation. The two countries need to seek their common security — and that of the world — by evolving and developing together.

In The Economic Weapon: The Rise of Sanctions as a Tool of Modern War, historian Nicholas Mulder reminds us that even when Britain and Russia were savagely battling each other during the 1853-56 Crimean War, they continued to service their debts to each other. Likewise, when hedge funds launched predatory attacks on Asian currencies during the 1990s Asian financial crisis, they ultimately still played by the rules (even though their unethical behavior brought some East Asian countries’ economic progress to a halt).

Vietnam and India still have a long way to go to compete with China. Control of the pandemic, selective resumption of production and continued strengthening of its supply chains globally will keep China on top for some time.