On the one hand, U.S. policy aims to constrain China’s economic, political, and military development because it has now become the United States’ chief economic competitor and thus enemy. On the other hand, U.S. policy seeks to secure the many benefits to the United States of its companies’ trade with and investments in China. U.S. debates over “decoupling” the two countries’ economies versus the milder version of the same thing—“de-risking”—exemplify, on both sides, U.S. policy’s split approach to China. More

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