We have moved into an era of global competition tempered by the need to co-operate and the fear of conflict. The main protagonists are the US and its allies on the one hand, and China and Russia on the other. Yet the rest of the world also matters. It contains two-thirds of the global population and a number of rising powers, notably India, now the world’s most populous country.
Nevertheless, relations between the US and China are clearly central. Fortunately, the administration has been trying to reduce the friction, most recently with visits to Beijing by secretary of state, Antony Blinken, and Treasury secretary, Janet Yellen.