US and China Emerge as Functional Equals in Washington's Changing Foreign Policy

US President Donald Trump's statements on meeting with China's President Xi Jinping signal a significant shift in Washington's stance on Beijing, moving from a "decade-plus view of Beijing as an existential threat" to a narrative of a "functional equal" relationship. This change is reflected in the formation of a "G2" duopoly, leaving other global powers like the EU, Russia, India, and Japan on the periphery. The US Defense Secretary Pete Hegseth and Trump himself have echoed the sentiment, emphasizing a path of "peace through strength, mutual respect, and positive relations" between the two nations.

Key Takeaways:

• Trump's statements on the "G2" meeting with Xi Jinping indicate a change in Washington's stance on China, moving from an existential threat to a functional equal.
• The US and China have formed a duopoly, relegating other global powers to secondary status.
• The US Defense Secretary Pete Hegseth has agreed with the President that the relationship between the US and China has never been better.
• Hegseth and his Chinese counterpart, Admiral Dong Jun, have agreed to set up military-to-military channels to deconflict and deescalate any potential problems.
• The idea of a US-China condominium, first coined during the Bush era, is gaining traction again, with the aim of addressing challenges like trade imbalances, climate change, and financial stability.
• Trump's turnaround on China is attributed to the economic and diplomatic setbacks he faced after launching a tariff war, with Beijing holding the upper hand in the negotiations.
• The global commentariat has concluded that Trump has made more concessions than China after unleashing a tariff war.

Statistics:

• 10-year defense framework agreement signed between the US and India's defense minister Rajnath Singh.
• US Defense Secretary Pete Hegseth has an "equally positive meeting" with his Chinese counterpart, agreeing to set up military-to-military channels.
• The US and China have agreed to address challenges like trade imbalances, climate change, and financial stability through the formation of a "G2" duopoly.
• Beijing's official readout from the summit echoes the US sentiment, stating that China and the US can "jointly shoulder our responsibility as major countries and accomplish great things for the good of our two countries and the world."
• The term "G2" in relation to China was first coined during the Bush era by economist C. Fred Bergsten.

Sources:

• The TOI correspondent from Washington, quoting US President Donald Trump's X post.
• A Washington pundit, attributing Trump's turnaround on China to economic and diplomatic setbacks.
• Financial Times report, stating "China emerges as a peer-rival" to the US.
• Associated Press, concluding that Trump gained little in the talks and the "deal between the US and China is undoing damage from a self-inflicted trade war."
• US Defense Secretary Pete Hegseth's post, agreeing with Trump's sentiment on the G2 meeting.
• Beijing's official readout from the summit, echoing the US sentiment.