PGIM: Strategic Stalemate: What Investors Miss About U.S.-China Competition | 8 Jun 2026 | The Outthinking Investor

• Host: Daleep Singh (Vice Chair and Chief Global Economist at PGIM)
• Guest: Julian Gewirtz (Former Senior Director for China and Taiwan Affairs at the National Security Council)

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00:00:02 — The Death of Escalation Dominance

• The Historical Paradigm: Historically, the United States possessed absolute "escalation dominance" over its global rivals. This implied that Washington strictly controlled the pace, parameters, and pain of any international conflict—dictating the rules of global trade, owning the fundamental technology stack, and managing the core financial rails.