The U.S. should be 'more confident' and less worried about losing ground to China, says Peking University expert | Fortune

U.S.-China competition should be met with greater confidence, not panic about falling behind, according to Yu Tiejun, president of Peking University’s Institute of International and Strategic Studies. Speaking at the Asia New Vision Forum in Singapore on Sept. 29, Yu said the rivalry has led to an “over-securitization of almost everything,” drawing a comparison to the 1930s. He argued the U.S. has room to compete in technological innovation and pointed to deep capital markets, citing Boston Consulting Group data showing top U.S. tech firms spent $400 billion-plus on capex in 2025 versus $63 billion for Chinese peers. Yu also highlighted potential cooperation areas like AI governance and biotechnology, while cautioning that “the problem is politics.” Separately, panelist Joseph Liow urged smaller nations in Southeast Asia to pursue strategic autonomy. He noted the Asian Development Bank raised regional growth forecasts to 4.7% for 2026 and 4.9% for 2027, though ASEAN integration remains a “moving target.”