Relations between the world's two biggest nations are deteriorating by the day. Initial frictions over bilateral deficits and exchange rates have evolved into unabashed competition for technological supremacy and clout over the future global economy. As the US adjusts to a new reality in which China is a major global player, can the two powers rebuild a friendship and work towards greater strategic trust? Will China step up as a fair and transparent member of a rules-based international order? How can countries in Asia adapt to the spillovers and minimize collateral damage? How can businesses take the lead in the pursuit of international collaboration, peace, and stability?