Introduction

China’s rise is the most momentous geopolitical development of our time, a phenomenon with signif icant yet uncertain implications for the transatlantic community. The European Union (EU) has declared China to be simultaneously a partner, a competitor, and a systemic rival, while individual European countries approach China with unique interests and perspectives. The United States has shifted from an effort to integrate China into the international system as a “responsible stakeholder” to a posture focused more on strategic rivalry and technological competition. Governments and private actors across North America and Europe are seeking to redef ine the terms of their economic interdependence with China. US and European of f icials have coalesced around the term “de-risking” to describe their approach, although they do not always agree on what that means. Many North American and European companies are looking to diversify their supply chains so as not to be inordinately reliant on Chinese suppliers or the Chinese market, but few are prepared to give up on China altogether. Given the considerable variance in perspectives, interests, and capabilities within Europe and across the Atlantic, whether there can be a “transatlantic pivot” on China is a central question of this new era.