China, US will both compete and cooperate

Despite the weakening of its leadership, the United States is still trying to capitalize on its remaining advantages and the political clout it enjoys in the world to maintain its dominant status in a fast-developing multi-polar era.

In fact, maintaining Washington's dominant status is a central diplomatic plank of US President Barack Obama. His diplomatic policies have been wise in that they are meant to change the way American diplomacy is practiced, the essence of which is safeguarding the US' dominance on three fronts: as a power, world leader and key balancing factor in a new world order.

But there are considerable disagreements within the US establishment over how to achieve a Washington-dominated equilibrium in strategic principles while handling relations with rising powers. The business community, led by major multinational corporations, and financial movers and shakers on Wall Street, wants to continue with the policy of pragmatic cooperation with China as a main stakeholder. Special interest groups, comprising mainly military-industrial complexes, however, on the pretext of guaranteeing US leadership and national security, advocate tougher policies against any practical or potential source of threat, and view Russia and China as the foremost strategic rivals.