In this episode of Tea Leaves, TAG Chairman Dr. Kurt Campbell joins the show to discuss his recent Foreign Affairs article, “Underestimating China,” and outlines why the United States must shift its strategic approach to remain competitive. In his conversation with Rexon Ryu, Dr. Mira Rapp-Hooper, and Tiffany Ma, Dr. Campbell discusses his argument that unless the United States moves toward “capacity-centric statecraft” and allied scale, the U.S. risks falling behind China in key domains relating to military capabilities, technology, and operational elements. He explores the flaws in assessments of Chinese power, need for a protected allied market, and the need for two-way industrial cooperation.