Is a China-US 'rivalry partnership' possible? | Mohamed El-Erian

The two powers must reach an understanding that competition does not preclude cooperation

Not a day seems to pass without further evidence of the mounting economic tensions between China and the US, the world's two largest economies. This growing antagonism will have a bigger immediate impact on China than on the US, as bilateral decoupling fuels a broader ongoing process of deglobalisation. And the negative spillover effects for a subset of other countries - which I call the dual-option economies - could be particularly significant.

Even from a purely economic perspective, it is hard to envisage any durable abatement of Sino-American tensions in the near future. And that is before factoring in national-security issues, let alone those relating to technology and human rights.

Related: TikTok halts talks on London HQ amid UK-China tensions