China celebrates 93rd founding anniversary of the People’s Liberation Army
China will today celebrate the 93rd anniversary of the founding of its People’s Liberation Army.
The anniversary comes as geopolitical tensions between the US and China intensify. Last week, Washington asked Beijing to close its consulate in Houston due to allegations of espionage; Beijing retaliated by announcing that the US consulate in Chengdu must close. The two nations have clashed repeatedly over the origins of COVID-19, China’s territorial claim of the South China Sea, intellectual property disputes and repression in Hong Kong.
Deteriorating diplomatic and military relations point to a fundamental change in the strategic and ideological calculus of both countries. While some analysts have predicted the advent of a cold war between the world’s largest powers, the intertwined economic relationship between the US and China could preclude a greater severance of ties. The US continues to rely on China to host its manufacturing plants and purchase its debt, while China depends on the US to sell its exports and educate hundreds of thousands of university students.
Expect a continued breakdown in diplomatic and military relations in the medium-term. However, tensions are unlikely to reach the point of an irrevocable severance due to the economic dependency that exists between Washington and Beijing.
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