By all appearances, Washington is recalibrating its strategy toward Beijing with a renewed sense of urgency. In the weeks leading up to a highly anticipated mid-May meeting between US President Donald Trump and Chinese President Xi Jinping, the United States has intensified pressure on China across two critical domains: advanced technology and energy flows. The convergence of semiconductor restrictions and oil-related financial warnings signals a broader geopolitical maneuver that extends beyond bilateral trade disputes, touching on global supply chains, financial systems and regional security dynamics. At the core of this strategy lies a familiar but evolving concern. The United States seeks to maintain its leadership in cutting-edge technologies, particularly semiconductors and artificial intelligence, while simultaneously constraining China’s ability to accelerate its own capabilities. At the same time, Washington is leveraging financial tools to scrutinize China’s involvement...