Monte Erfourth
The Strategy Central Great Power Competition report series details the United States and China’s great power competition in the first half 2024. It offers an analysis to help strategists grasp the current rivalry between these two superpowers regarding national power, economics, military power, and diplomacy. This is the second of five segments covering each aspect of great power competition and will focus on economic competition.
The economic aspect of great power competition between the United States and China is the most dynamic dimension of their rivalry. It has far-reaching implications for global stability and the balance of power. This article delves into the economic hard edges that define this competition, examining how each nation leverages its economic strengths and addresses its vulnerabilities to outmaneuver the other. The analysis covers the strategies both nations employ, including trade policies, technological advancements, and investment initiatives, and how these efforts shape the global economic landscape.
The ongoing economic tensions between the two superpowers, including the imposition of tariffs, export controls, and investment restrictions, will also be examined. These measures reflect a broader strategy by both the United States and China to secure critical resources, dominate key technological sectors, and influence global markets. The great powers’ pursuit of resources impacts other nations, particularly in the Indo-Pacific region, where the competition between China and the United States is most intense.
Ultimately, this article aims to provide a comprehensive overview of the economic strategies and policies driving the great power competition between the United States and China. By examining the strengths and weaknesses of both nations' economies and the broader geopolitical implications of their rivalry, the article offers insights into the future trajectory of global power dynamics and the potential outcomes of this ongoing competition.
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