Business Maverick: US-China downward spiral raises fresh fears of eventual conflict

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China and the US have locked themselves into a new cycle of recriminations, provoking fresh worries that the world’s two biggest economies are heading down a path that could one day lead to the once unthinkable: the possibility of open conflict.

The latest back-and-forth started on Monday, when President Xi Jinping said in a speech that China was the victim of “comprehensive containment and suppression by western countries led by the US”. Two days later, US director of National Intelligence Avril Haines called Xi’s remarks “the most public and direct criticism that we’ve seen from him to date” — and she responded in kind.

The duelling narratives brought into sharp focus how the US and China increasingly have one thing in common: a growing distrust of the other side. Even worse, the escalating rhetoric is entrenching divisions that could make it harder for both sides to find a way to co-exist peacefully over the long term.

To be sure, there’s no sign of a war breaking out anytime soon. Haines and Central Intelligence Agency Director William Burns also said on Thursday the US intelligence communitythat China doesn’t want a military conflict over Taiwan, particularly after seeing the US and allied support for Ukraine after Russia’s invasion. The countries remain each other’s top trading partners and both sides have insisted they don’t want a new Cold War.

Adding to tensions were assessments from the Department of Energy and the FBI that the coronavirus pandemic likely began with a lab leak in Wuhan, China. On Thursday, the US sanctioned five Chinese companies for allegedly supplying aerospace parts for Iranian drones.

 

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