As U.S.-China tensions escalate across trade, security and geopolitics, both countries appear locked in a strategic competition with global consequences. In this episode, Director of the RAND China Research Center Jude Blanchette and Professor of Finance at the Shanghai Advanced Institute of Finance (SAIF) at Shanghai Jiao Tong University Zhu Ning join host Kevin Kajiwara to explore the economic and geopolitical dynamics shaping Beijing’s long-term strategy—and Washington’s response. From China’s evolving trade posture and domestic stimulus efforts to rising risks in the Taiwan Strait and South China Sea, this conversation examines what’s driving the relationship today and what it could mean for global markets, supply chains and long-term stability.