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Stop Obsessing About China

Why Beijing Will Not Imperil U.S. Hegemony

A Chinese flag in Shanghai's financial district, December 2015.  Aly Song/REUTERS

The United States is a deeply polarized nation, yet one view increasingly spans the partisan divide: the country is at imminent risk of being overtaken by China. Unless Washington does much more to counter the rise of its biggest rival, many argue, it may soon lose its status as the world’s leading power. According to this emerging consensus, decades of U.S. investment and diplomatic concessions have helped create a geopolitical monster. China now boasts the world’s largest economy and military, and it is using its growing might to set its own rules in East Asia, hollow out the U.S. economy, and undermine democracy around the globe. In response, many Democrats and Republicans agree, the United States must ramp up its military presence in Asia, slap tariffs on hundreds of billions of dollars of Chinese goods, and challenge China’s influence worldwide.

But this emerging consensus is

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