June 2013

The Cold War seemingly ended in a decisive victory for the West. But now, Noah Feldman argues, we are entering an era of renewed global struggle: the era of Cool War. Just as the Cold War matched the planet’s reigning superpowers in a contest for geopolitical supremacy, so this new age will pit the United States against a rising China in a contest for dominance, alliances, and resources. Already visible in Asia, the conflict will extend to the Middle East (U.S.-backed Israel versus Chinese-backed Iran), Africa, and beyond.
 
Yet this Cool War differs fundamentally from the zero-sum showdowns of the past: The world’s major power and its leading challenger are economically interdependent to an unprecedented degree. Exports to the U.S. account for nearly a quarter of Chinese trade, while the Chinese government holds 8 percent of America’s outstanding debt. This positive-sum interdependence has profound implications for nations, corporations, and international institutions. It makes what looked to be a classic contest between two great powers into something much more complex, contradictory, and badly in need of the shrewd and carefully reasoned analysis that Feldman provides.
 
The U.S. and China may be divided by political culture and belief, but they are also bound together by mutual self-interest. Cool War makes the case for competitive cooperation as the only way forward that can preserve the peace and make winners out of both sides.   —Random House