What are the Impacts of the Cold War between China and the United States?

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The 21st century has witnessed heightened military and political tensions, mainly between the United States and China. These tensions have resulted in what is currently termed as the new cold war or rather the second cold war. The first Cold War between Russia and the United States was officially dissolved in 1991 after 45 years of geopolitical tension. The new cold war mainly began in 2016 after China's territorial dispute over the South China Sea. After China disregarded the court's ruling over the territory, the United States Government deployed it is defining in South Korea. This move by the United States government instigated resentment from the Russian, North Korean, and Chinese Governments. The political tensions later worsened after the inauguration of Donald Trump as the forty-fifth president of the United States government on 20 January 2017. China and the US seek to become the dominant force in genetics, biotechnology, and next-generation communications. They have also been conflicting over 5G, robotics, artificial intelligence, autonomous vehicles, quantum computing, supercomputers, and semiconductors. They have lodged accusations that China is a threat to national security. The country has been conducting industrial espionage via state-owned firms like Huawei and ZTE. These firms have denied allegiance to the CCP, but such information has failed to prevent US sanctions against them, especially in the country's supply chains. The paper reviews sources concerning the US-China cold war and elucidates its origin and current status. The goal is to ensure policymakers in the US and China understand the implications of the ongoing conflict. The document should enable them to understand the gravity of the matter and outline legislation that could save the world from a trade and WTO law meltdown.