US-China 'cold war' could be a boon to the region
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Cold War
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Significance The United States had lobbied its allies not to join the China-led AIIB, to little avail. Although the White House claims that the media has overplayed its opposition, it appears clear that Washington and Beijing are competing for influence through institutions, with China suspecting that the Trans-Pacific Partnership is a US effort to contain its geopolitical influence. Impacts The South China Sea is the most likely source of conflict, especially if underwater resources are discovered. All parties have an interest in containing North Korea, but missile defence systems may rattle China. A Chinese sea-based nuclear deterrent will trigger greater US investment in anti-submarine capabilities.
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