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The overarching concern is that escalating tensions could lead to accidental conflicts, especially in sensitive regions like the South China Sea or Taiwan Strait. Both sides recognize the high costs of war but are unwilling to back down from asserting their interests.

Conclusion: A New Global Paradigm

We are witnessing a shift from globalization driven by mutually beneficial economic ties to a landscape marked by strategic rivalry and ideological contestation. The current "cold war" between the U.S. and China is more complex than the one with the Soviet Union, encompassing economic interdependence, regional security issues, and global governance.