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.

Economic globalization — with more participants — is in Europe’s interest. Following the lead of the United States and kicking Russia and its allies out of the international system will only cause global fragmentation.

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 U.S. is currently attempting to lump China with Russia, but the conflict in Ukraine is not likely to change America’s competitive strategy toward China in the long run. The U.S. will continue to focus on the Indo-Pacific region.

I strongly believe it is time for the trade war between the U.S. and China to be placed in abeyance. With inflation increasing in the U.S. and with the growth of China’s domestic consumption slowing, I am sure the will must be there on both sides.