Accidental Conflict : America, China, and the Clash of False Narratives

The misguided forces driving conflict escalation between America and China, and the path to a new relationship “A timely, fluid, readable assessment of a testy and rapidly changing global relationship.”—Kirkus Reviews (starred review) A Financial Times Best Book of the Year: Economics In the short span of four years, America and China have entered a trade war, a tech war, and a new Cold War. This conflict between the world’s two most powerful nations wouldn’t have happened were it not for an unnecessary clash of false narratives. America falsely blames its trade and technology threats on China yet overlooks its shaky saving foundation. China falsely blames its growth challenges on America’s alleged containment of market-based socialism, ignoring its failed economic rebalancing. In a hard-hitting analysis of both nations’ economies, politics, and policies, Stephen Roach argues that much of the rhetoric on both sides is dangerously misguided, amplified by information distortion, and more a reflection of each nation’s fears and vulnerabilities than a credible assessment of the risks they face. Outlining the disastrous toll of conflict escalation between China and America, Roach offers a new road map to restoring a mutually advantageous relationship. The misguided forces driving conflict escalation between America and China, and the path to a new relationship A timely, fluid, readable assessment of a testy and rapidly changing global relationship. Kirkus Reviews (starred review) A Financial Times Best Book of the Year: Economics In the short span of four years, America and China have entered a trade war, a tech war, and a new Cold War. This conflict between the worlds two most powerful nations wouldnt have happened were it not for an unnecessary clash of false narratives. America falsely blames its trade and technology threats on China yet overlooks its shaky saving foundation. China falsely blames its growth challenges on Americas alleged containment of market-based socialism, ignoring its failed economic rebalancing. In a hard-hitting analysis of both nations economies, politics, and policies, Stephen Roach argues that much of the rhetoric on both sides is dangerously misguided, amplified by information distortion, and more a reflection of each nations fears and vulnerabilities than a credible assessment of the risks they face. Outlining the disastrous toll of conflict escalation between China and America, Roach offers a new road map to restoring a mutually advantageous relationship. "In the short span of four years, America and China have entered a trade war, a tech war, and a new Cold War. This conflict between the world’s two most powerful nations wouldn’t have happened were it not for an unnecessary clash of false narratives. America falsely blames its trade and technology threats on China yet overlooks its shaky saving foundation. China falsely blames its growth challenges on America’s alleged containment of market-based socialism, ignoring its failed economic rebalancing. In a hard-hitting analysis of both nations’ economies, politics, and policies, Stephen Roach argues that much of the rhetoric on both sides is dangerously misguided, amplified by information distortion, and more a reflection of each nation’s fears and vulnerabilities than a credible assessment of the risks they face. Outlining the disastrous toll of conflict escalation between China and America, Roach offers a new road map to restoring a mutually advantageous relationship."-- Site de l'éditeur In the short span of four years, America and China have entered a trade war, a tech war, and a new Cold War. This conflict between the world's two most powerful nations wouldn't have happened, were it not for an unnecessary clash of false narratives. America falsely blames its trade and technology threats on China yet overlooks its shaky saving foundation. China falsely blames its growth challenges on America's alleged containment of market-based socialism, ignoring its failed economic rebalancing.00In a hard-hitting analysis of both nations' economies, politics, and policies, Stephen Roach argues that much of the rhetoric on both sides is dangerously misguided, amplified by information distortion, and more a reflection of each nation's fears and vulnerabilities than a credible assessment of the risks they face. Outlining the disastrous toll of conflict escalation between China and America, Roach offers a new road map to restoring a mutually advantageous relationship Contents 7 Preface as Sequel 9 Introduction: Expedience 11 Part One: On Relationships 19 Introduction 19 1 Shared History 23 2 From Convenience to Codependency 45 3 Two Dreams 65 Part Two: America’s False Narratives of China 83 Introduction 83 4 Bilateral Bluster 87 5 Huawei as a Trojan Horse 111 6 Winning Cold Wars 133 7 From Trump to Biden—The Plot Thickens 157 part three: china’s false narratives of America 177 Introduction 177 8 Censorship as Conflict 181 9 Consumerism and Animal Spirits 201 10 China with American Characteristics 223 11 A New Model of Major Country Relationships 243 Part Four: Dueling Narratives 265 Introduction 265 12 Accidental Conflict 269 13 From Distrust to Trust 289 14 A Path to Interdependency 313 Postscript 331 Notes 333 Acknowledgments 415 Index 419