🌏 In a thought-provoking article published in Foreign Policy, Evan G. Greenberg, executive vice chair of the National Committee on U.S.-China Relations and chairman of Chubb Limited, criticized the United States' emerging policy of viewing U.S.-China competition as a new cold war.
Greenberg argues that this approach is \"wrongheaded and counterproductive.\" He emphasizes the deep economic ties between the U.S. and the Chinese mainland, highlighting nearly $700 billion in trade in recent years despite attempts to reduce dependencies.
🔗 The expert warns against efforts to completely disentangle the dense value chains between the two nations, labeling such decoupling in technology and critical national security sectors as \"selective.\" He points out that not only is complete decoupling virtually impossible, but it would also harm the American economy, which relies heavily on Chinese intermediate goods and capabilities.
🌐 Additionally, Greenberg notes that the \"new cold war\" mentality is losing favor globally, as countries strive to maximize their interests rather than taking sides. He draws parallels to America's past interventions in Iraq, Afghanistan, and Libya, suggesting that imposing a governance vision has often led to failure.
🤝 Highlighting the strength of America's global alliance network, Greenberg believes that any actions undermining these alliances would weaken the U.S.'s capacity to compete with the Chinese mainland. He concludes that organizing foreign policy around constant confrontation with China will result in limited international support.
📈 \"Washington's Playbook for China Must Change,\" argues Greenberg, urging the United States to adjust its strategy to create a more favorable balance of power without falling into the trap of a new cold war.
