In his recent address to the U.S. Congress, President Joe Biden warned that China is deadly serious about trying to become the world’s most significant power. But Biden also declared that autocrats will not win the future; America will. If mishandled, the U.S.-China great-power competition could be dangerous. But if the United States plays it right, the rivalry with China could be healthy. The success of Biden’s China policy depends partly on China, but also on how the U.S.