So in view of this environment, when everything is viewed through security lenses, what can be the pathway forward?

There are national security issues that both countries will have to respect.

But I do not agree with the view that they are in a new Cold War.

If you think about this, they could be politically opposite, but economically competitive, but most importantly, global public goods collaborative.

And that is essential.

And there is space to collaborate, whether it's on AI risk, climate, data transparency, and so forth.

Just a little bit, first of all, on the parameters of the trade, because I think it lays out possibilities for future competition but collaboration going forward.

Now, can that make sense? Can it be managed? Could it be managed with the government that he has? And could it be managed with the populations, given the changing attitudes? I would say stay tuned, but I think something interesting is going to happen in this space.

Professor Jin.

If we describe the world commonly as politicized, polarized, and protectionist, I'd say along with what you have laid out, the world pragmatism is still very much true and reigns true for the vast majority of the world.

And economic pragmatism still, I think, is the core principle, core guiding principle.

There is an absolute illusion.

of de-risking and decoupling, even among the two big major superpowers, US and China.

I hear that all the time, but that's not what the data suggests.

In terms of the direct trade and investment, yes, it has gone down between the two countries.

demographic changes, too.