US and China must avoid exaggerated fears that could create conflict

WHEN China's foreign minister, Wang Yi, recently called for a reset of bilateral relations with the United States, a White House spokesperson replied that the US saw the relationship as one of strong competition that required a position of strength. It is clear that President Joe Biden's administration is not simply reversing Donald Trump's policies.

Some analysts, citing Thucydides' attribution of the Peloponnesian War to Sparta's fear of a rising Athens, believe the US-China relationship is entering a period of conflict pitting an established hegemon against an increasingly powerful challenger.

I am not that pessimistic. In my view, economic and ecological interdependence reduces the probability of a real cold war, much less a hot one, because both countries have an incentive to cooperate in a number of areas. At the same time, miscalculation is always possible, and some see the danger of "sleepwalking" into catastrophe, as happened with World War I.