China's Economic Struggles Give US Momentum, But Fundamental US-China Rivalry Unlikely to Change
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China's economy is struggling with high youth unemployment, real estate debt, and a slow post-COVID recovery. This may give the U.S. more leverage in talks.
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However, China still has economic strengths, so its downturn may be temporary. Xi likely still believes China is rising.
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The Biden administration has strengthened security alliances aimed at counterbalancing China, giving it confidence.
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The talks could bring some stability but likely won't change the fundamental rivalry between the U.S. and China.
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The U.S. is unlikely to lift economic controls meant to limit China's military and technology ambitions.