Strategic competition describes the sustained rivalry between two or more major powers — most notably the United States and China — across economic, military, technological, and diplomatic domains. Unlike traditional arms races or proxy wars, strategic competition involves simultaneous cooperation and confrontation: rivals trade goods while racing to dominate critical supply chains, share diplomats while restricting each other's technology, and compete for global influence without necessarily fighting. U.S. law formalized the concept in the 2018 National Defense Strategy, which named China a "strategic competitor." Economists and security scholars debate whether the current US-China relationship fits this framework or has escalated into something closer to economic decoupling.