As against such pessimism, note should also be taken of China’s economic interdependencies, the adaptability and sophistication of its diplomacy and its participation in the international system as a ‘responsible great power’.
If the resilience of China’s ruling communist party is partly due to its embrace of nationalism and its presentation of itself as the inheritor of China’s past greatness, it also rests on the performance of the Chinese economy.
The maintenance of high economic growth rates is seen as essential for social stability and hence for continued party rule.
International trade and access to advanced technology are crucial to China’s economic growth.
That in turn relies greatly on the public goods provided by the United States.
Arguably China and the United States have become economically interdependent, especially as China holds a high proportion of American indebtedness, with currency reserves of over US$2.4 billion.
These considerations go a long way in mitigating the potential for conflict.