Abstract
Maintaining a balance of power in Asia is essential, as is having a relationship between China and the United States that reaps the gains of cooperation and avoids the costs of high levels of conflict. In striving to achieve balance in the region, a principal objective of policy should be to avoid igniting an upward spiral of military competition that diverts the United States and China from their primary strategic task—rebuilding themselves. China requires a new, more sustainable growth model and a revitalized social compact, both of which require rekindling social, economic, and political reform. For its part, the United States must rebuild the foundations for sustainable comprehensive power, not least its human resources, physical and institutional infrastructure, and national balance sheet. A high level of U.S.-China contention would be catastrophic, a major unnecessary distraction from these tasks for both peoples and states. This brings us to the topic at hand—the policy of “rebalancing.” What is it? What are its limitations? How can both nations think more productively about the strategic foundation for bilateral ties?
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