International Journal of Social Science & Economic Research
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Title:
A NEW COLD WAR OR STRATEGIC COMPETITION?

Authors:
Sankalp Rawal

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Sankalp Rawal
Department of Economics, Aryabhatta College, University of Delhi, New Delhi, India, 110021

MLA 8
Rawal, Sankalp. "A NEW COLD WAR OR STRATEGIC COMPETITION?" Int. j. of Social Science and Economic Research, vol. 6, no. 7, July 2021, pp. 2407-2419, doi.org/10.46609/IJSSER.2021.v06i07.025. Accessed July 2021.
APA 6
Rawal, S. (2021, July). A NEW COLD WAR OR STRATEGIC COMPETITION? Int. j. of Social Science and Economic Research, 6(7), 2407-2419. Retrieved from doi.org/10.46609/IJSSER.2021.v06i07.025
Chicago
Rawal, Sankalp. "A NEW COLD WAR OR STRATEGIC COMPETITION?" Int. j. of Social Science and Economic Research 6, no. 7 (July 2021), 2407-2419. Accessed July, 2021. doi.org/10.46609/IJSSER.2021.v06i07.025.

References

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Abstract:
China’s success in closing the national power gap between itself and the United States has contrived a new threat for the United States global primacy. Lately, quite a few research elites and scholars have scrutinized the ever-intensifying competition between the United States and China and its multidimensional ramifications for the world economy. Unlike Cold War 1, factors such as economic and technological supremacy hold great importance for both rivals apart from international prestige and leadership. The gravity of the situation is easy to assume as many policymakers are bothered about the prospect of a new Cold War between the two countries. The agony is justified since both countries jointly constitute more than one-third of the world’s GDP. It implies contention between the two states could have large scale adverse implications on the growth of the world economy, especially emerging economies and already-stressed global supply chains. However, cooperation among them can foster economic growth, preserve the integrity of an open and robust trading system and pave the road to global prosperity. This paper seeks to offer an analysis of the circumstances which led to the rise of China as a global economic leader, which in turn caused strategic competition between the United States and China. In addition, several recommendations to resolve the ideological differences between the two nations will also be examined.

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