Despite China’s attempt to cloak its assertiveness as a non-interventionist “peaceful rise”, its economic growth, expanding military and far-reaching foreign policies have signified the demise of US unipolarity and brought international relations into a whole new era. Aside from the trade war that intensified tensions between China and the United States, accusations on the origin of the coronavirus may push the rivalry to the brink of a new cold war. Chinese economic and military assertiveness is a threat to the existing balance of power. On the economic front, China has built a web of Sino-centric institutions parallel to Western organisations. The Asian Infrastructure Investment Bank, in providing financial help to developing countries, mimics the World Bank and Asian Development Bank. The Belt and Road Initiative has also pressured debtor countries into supporting Chinese geostrategic interests. On the military front, Chinese President Xi Jinping has sought to build a strong navy in addition to the land-based army. A blue-water navy plan was rolled out to expand China’s sphere of influence to the Indo-Pacific region to counter US presence. Professor Robert Ross of Boston University has argued that China’s naval nationalism is fuelled by the desire to regain lost territories across the Taiwan Strait and in the South China Sea. Given Chinese assertiveness and the geographical difficulty of the US invading China, can the US effectively counter this rising power? The US has formed a de facto alliance with the Association of Southeast Asian Nations, Japan and South Korea, but the effectiveness of this alliance as a counterbalance is questionable. First, almost all Asean members have close economic relationships with China and are reluctant to jeopardise such ties. Most opt to hedge, seizing the protection of the US security umbrella while maximising economic and trade benefits from China. Second, the contested legacies between countries in the region and their territorial disputes deter viable cooperation. Japan and South Korea have a maritime dispute over the islets known as Takeshima or Dokdo , and this, coupled with other historical challenges, has sometimes soured the relationship. US, China may ‘stumble’ into conflict in South China Sea, war-gamers suggest In Southeast Asia, domestic politics has at times caused Philippine President Rodrigo Duterte to swing away from the US. To unite this alliance requires more arm-wrestling skills and political strategising than the US needed during the Cold War. Growing fears over China’s military and economic assertiveness and the US’ difficulties in forming an alliance against it might result in cold war 2.0. Wincy Yim, North Point