FUKUYAMA

Abandoned American shipyard at dusk, a rusted gantry crane reading “American Shipbuilding, Building Our Future” beneath a U.S. flag, with weeds breaking through cracked concrete in the foreground and brightly lit, working Chinese shipyards visible across the water on the far shore

The future has no flag: the U.S.–China rivalry beyond the hype

23/05/202622/05/2026

Every few years, a confident essay declares the U.S.–China rivalry already settled in America’s favor. The claim feels reassuring. It also misreads where real power now grows

FUKUYAMA

The future has no flag: the U.S.–China rivalry beyond the hype

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