The United States views China as a revisionist state and as a threat to its global hegemony due to the latter’s economic, political, technological and military rise.
On the geoeconomic front their competition revolves around trade wars, geopolitics of currency (dedollarization), development of trade corridors ( BRI vs BBBW, IMEC) and competition for the technologies of Fourth Industrial Revolution such as, Advanced chips, Artificial intelligence, development of renewable energy technologies, Genetic engineering, Biotechnology, Nanotechnology, 3D printing, Hypersonic Electronic Pulse Missiles, etc.
On the geopolitical front, Cold War 2.0 involves the emergence of the Multipolar World Order in which China is the major political and financial power and its crucial role in development of BRI, SCO, AIIDB, BRICS, and its preference of using non-dollar currencies for trade. Further, the main areas of geopolitical competition between the US and China are Indopacific (Taiwan issue, 9-Dash line, and Malacca dilemma), their New Great Game in Central Asia, Middle East and South Asia. China also contests the rules of the World Bank, World Trade Organization and International Monetary Fund and thus seeks reforms in them.
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