In this interview with China-US Focus Host James Chau, Prof. Zhao Minghao of Fudan University argued that China–U.S. relations remain driven by long-term competition alongside selective engagement, a pattern that persists despite recent global conflicts. Zhao described U.S. strategy as “low-cost hegemony” and “offensive retrenchment” that aim to secure key resources, strategic chokepoints and technological advantages. He also called for a deeper understanding of the emerging new U.S. strategic thinking.