China and Russia may be forced to seek a new systemic equilibrium, with the result being two international camps. This could lead to a new cold war and subject other nations to unpredictable security costs.

Strategic competition between China and the United States should be characterized not as a new cold war but as an uneasy peace. Shooting is not likely to break out, but the two countries will remain in dread of each other in the coming decade.

The postwar foundation laid by the United States has been shaken, and the Western model is in trouble as never before. The primary creator of the liberal international order has unwittingly sabotaged itself.

The postwar foundation laid by the United States has been shaken, and the Western model is in trouble as never before. The primary creator of the liberal international order has unwittingly sabotaged itself.

Worries by the United States that China will take over its leadership role are based on a serious strategic misunderstanding. The road ahead for the international power structure as it shifts to a multipolar pattern may be long and difficult, but the prospects are promising.

True multilateralism, as reflected in the UN Charter, is the foundation of a functional world order, which in turn yields peace and prosperity. The future is not necessarily gloomy, so long as nations, which face daunting challenges, can work together in a spirit of harmony.

Speeches by Xi Jinping and Joe Biden laid out their understanding of the international political order from the perspective of their own national history. Developed nations in the West may identify with the U.S. vision, while developing nations may find the Chinese vision more attractive.

“There is only one system in the world, and that is the international system with the United Nations at its core,” President Xi Jinping said. “There is only one order, and that is the international order based on international law.”

The Group of Seven (G7) Leadership Summit held last June was stated to be an occasion for the Western leaders to “reestablish” the international order after the COVID-19 pandemic. It was also for the U.S. to demonstrate its return “back at the table”.

It’s not a contest between America and China alone, or one pitting democracy against autocracy. Moves by the United States to hold China down affect other countries as well. Unlike the U.S., which is trying to protect its hegemony, China is committed to building a community with a shared future for mankind.