Can U.S.-led efforts compete with the Belt and Road initiative?
RH: The Cold War is a poor analogy for understanding U.S.-China relations today. The Cold War was preceded by 30 years of global war and depression. The current moment follows 30 years of great power peace and global economic expansion. At the start of the Cold War, the Soviet Union exploited power vacuums along its periphery; China today is surrounded by capable powers and the constant presence of the United States in Asia. In the early 1950s, there was hardly any trade or investment flows into the Soviet Union. Today China is deeply embedded in the global economy. As such, containment is not an available option for dealing with China, given that few  if any  U.S. allies or partners would be receptive to aligning with the United States against China.