Four years ago, we wrote that the U.S. and China were at a “critical turning point.” During his presidency, Donald Trump had initiated a much harsher stance towards China, ending a half century of “engagement,” but it was not yet clear if the U.S. would sustain the new approach. Many observers, for instance, thought that if Joe Biden was elected in 2020, he would undo the trade war. (He didn’t.) At the time, it even seemed that the Trump administration had “used just about every tool