Donald Trump’s national security documents frame China as the United States’ greatest long-term threat. This declaration caps a historic shift in America’s strategic disposition toward China. From the establishment of diplomatic relations in 1979, until roughly 2016, when it became clear Chinese Communist Party Secretary Xi Jinping would double down on Leninism, Washington cooperated and competed with Beijing, emphasizing cooperation when possible. There is now a bipartisan consensus in the U.S. that relations with China are fundamentally competitive, and that the geostrategic, economic, and ideological stakes of competition are high. When Chinese leaders reached the same conclusion is hard to pin down, but Beijing agrees with Washington about the rivalrous nature of the relationship, “win-win” and “community of common destiny” pieties notwithstanding.