Assessing the State of US-China Strategic Competition

U.S-China relations are in a state of heightened strategic competition. Sadly, this state of affairs is unlikely to improve any time soon. The competition is global in scope and cuts across multiple arenas and domains. Ground zero for this competition is the Taiwan Strait. How is US-China rivalry and its probable trajectory seen in Washington and Beijing?

How should the two countries proceed under these conditions? How should other countries navigate this tense environment? What is the outlook for Taiwan in coming months and years?