The so-called unipolar moment is over. A new Cold War is dawning, and the world is bifurcating, tearing itself into new blocs. One is led by the United States. The other by China, ruled by a communist dictatorship.

Beijing seeks initially to become the preponderant power in the Indo-Pacific, the region that will soon account for the majority of the world’s GDP. Long before the U.S. won the previous Cold War — indeed, long before it won World War II — it was the preeminent power in the Pacific, briefly challenged only by the Empire of Japan. But if Beijing has its way, that era is coming to an end.