Not so long ago, political analysts were speaking of the “G-2” — that is, of a potential working alliance between the United States and China aimed at managing global problems for their mutual benefit. Such a collaborative twosome was seen as potentially even more powerful than the G-7 group of leading Western economies. As former Undersecretary of the Treasury C. Fred Bergsten, who originally imagined such a partnership, wrote in 2008, “The basic idea would be to develop a G-2 between the United States and China to steer the global governance process.” That notion would become the basis for the Obama administration’s initial outreach to China, though it would lose its appeal in Washington as tensions with Beijing continued to... Read more
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