This summit between Trump and Xi Jinping is framed as a high-stakes effort to manage tensions rather than resolve them—a pragmatic but limited approach. The strongest version of this narrative acknowledges the structural competition between the U.S. and China, where both sides recognize the risks of escalation but lack the political will or trust to pursue transformative agreements. The focus on trade, technology, Taiwan, and Iran reflects the multifaceted nature of their rivalry, with each issu...