• The Spy Balloon of 2023 is a sign that Cold War 2 is already here, and tensions between the U.S. and China are escalating.
• Calls for a return to the engagement strategy of the 1980s-2010s are coming from China and the U.S., but they are unlikely to be successful.
• The events of 2019-22, including the Hong Kong protests and China’s repression of the Uyghurs, will not be forgotten.
• China’s recent overtures have not been matched by more peaceful actions on the ground, and U.S. intelligence officials allege that China is preparing for action against Taiwan.
• China’s neighbors are forming balancing coalitions and seeking increased military cooperation with the U.S.
• The trend may be away from Chimerica, but there will still be plenty of trade between the two countries unless and until a major war breaks out.
Published February 4, 2023
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