Increasing the amount, and intensity of restrictions imposed on China, the US has launched a fierce trade war with the economic giant—possibly at its own expense. If tensions between the two powers continue to escalate, there is no doubt that global polarity stands to be affected just as drastically as large scale intergovernmental relations.

Heightened trade restrictions by the US come as a result of the passing of the national security law in Hong Kong. Already, the US-China partnership had gone sour after various industries and corporations were prevented from establishing business relations within the US—including Tencent and ByteDance. Similarly, Chinese companies were threatened to be taken off the US stock market unless their accounts were open to the government for surveillance. Now, with the constraints imposed on 11 Hong Kong officials, the US seeks to freeze assets, private holdings and discourage any form of business with these officials. Clearly, backing down or seeking common ground are not considered as options. Seeing that China has holds sway over the global market, such stringent measures, especially during a time when the US is in economic decline, seems unwise.

Currently, China is involved in various projects, starting from the China-Pakistan Economic Corridor (CPEC), One-Belt-One-Road initiative (OBOR), the Chabahar deal with Iran, improved trade ties with Russia and more, allowing it to amass immense influence in the Asian financial hub. As each project becomes more functional, the incomparable potential for profit, economic growth and global influence becomes more prominent. This laser focus on regional partnerships leaves China in an advantageous position, making it the US’s sole competitor in regards to economics, security and leadership.

Even if this is a lose-lose situation, China would still come out of this at a relatively better standing. The US has been battered by the coronavirus, while China’s economy is up and running. The US is only harming itself, when China still has large markets for its technology companies to tap into. This sanction spree is not feasible.