This week the United States' top diplomat, Secretary of State Antony Blinken, strongly rejected the idea that the US and China were entering a "cold war" in an interview with the Financial Times — despite tensions between the two countries remaining elevated.
China marches on
Whether Blinken is right or not, China's economy is marching on, and is likely to become the world's largest in the next 8-10 years, surpassing the US. That economic progress all but guarantees China's role as a global superpower for likely much of the rest of the 21st Century, and it means the US-China relationship is arguably the most important of any two countries in the world.
For Biden, and future US Presidents, walking the tightrope between showing strength on important issues such as human rights, trade and cyber security and engaging amiably has become more difficult, as US public opinion has shifted. Data from YouGov reveals that in 2017 roughly 10% of respondents polled would identify China as an "enemy" of the US. Today that number is closer to 35% — seemingly a result of the trade war that started in 2018 and also the COVID-19 pandemic.