The United States and People’s Republic of China are engaged in a strategic rivalry.
This Great Power Competition will determine the rules, norms, and institutions that govern international relations in the coming decades. Neither side has an undisputed advantage or clear path to victory, however, the crumbling of the U.S.-led order in Asia due to the rise of China will increase the risk of conflict, likely leading to the region will becoming less free, less open, and less inclusive than it is today.
US-based multinational companies will be increasingly caught in the crosshairs of the rivalry. As the United States and China continue to compete for influence, US companies will face pressure to choose sides. Those that do business in China may be subject to Chinese government pressure to comply with Chinese laws and regulations, even if those laws and regulations conflict with US law. US companies may also face pressure from the US government to reduce their reliance on China and to invest in other countries. This pressure could lead to increased costs and reduced profits for US companies - impeding their ability to compete.
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