U.S. President Donald Trump has suffered a decisive loss in his trade war with China. It is now in the interest of both countries to speedily resume trade and investment cooperation, cooperate to end the COVID-19 threat and implement the Paris climate accord.

A strong framework needs to be built in which China and the United States can operate together with little ambiguity. The two countries are currently positioned to benefit the world, if only they are willing to seize the moment.

China and the United States have patched things up before, but this time it’s going to be more difficult. The necessity of doing so, however, remains. Neither country can afford instability, much less war.

The nuclear issue on the Korean Peninsula will not be resolved easily, but there’s reason to hope that a resolution can be nursed into reality. China, Russia, and the Republic of Korea should actively promote the resumption of dialogue and not allow the matter to drift.

Much has been said about Trump’s provocative methods in dealing with China, but the source of mistrust goes far beyond the outgoing President. Even as Biden takes office, the plethora of conflicts between the U.S. and China threaten to escalate the struggle between two global powers who vie for global influence.

Over a century ago, tangled alliances in Europe were tested with the onset of the First World War. Today, the converging interests of Asia’s middle powers, U.S. regional allies, and China in the South China Sea threaten to provide the world a redux.

The outgoing U.S. president’s attempts to booby-trap his successor’s ability to improve relations with China is troublesome. It will take some time for the new occupant of the White House to stitch things together. But time is not unlimited.

The steady style of U.S. President-elect Joe Biden is a sharp contrast with that of the erratic Donald Trump, and so it’s likely that windows of opportunity will open in China-U.S. relations. Exactly how and in what fields improvement will come is anyone’s guess during the transition period.

Reestablishing order in the region must start with recognizing and defending sovereignty. While it is urgent that the incoming Biden administration address the Iran nuclear issue to forestall proliferation, regional order should be a top priority.

The incoming U.S. administration’s policy positions will likely include moving quickly to restore America’s influence in the region. It will seek an edge over China at every opportunity and try to draw ASEAN closer.