The US has failed to understand China

Andrew Sheng is a former central banker and financial regulator, currently distinguished fellow at the Asia Global Institute, University of Hong Kong.China is such a giant player in the global economy that understanding how the China-contest" class="entity-link entity-topic" data-entity-id="158386" data-entity-type="topic">US-China contest of the century for international primacy will evolve has become crucial.Some Westerners, especially those in the United States, feel so threatened that they have resorted to protectionism, with global fragmentation and perhaps even preparations for a third world war already in the cards. Kishore Mahbubani’s book Has China Won? highlighted deep misunderstandings and structural tensions between China and the US.In February, the US and Israel attacked Iran. The Trump administration got bogged down in a war of attrition, drawing comparisons to conflicts with countries such as Vietnam.