USA and China: The basic constellation remains the same, but the approach is changing fundamentally. That is a crucial development. This is how the recent meeting in San Francisco between the US and Chinese presidents can be summarized. In almost countless meetings at all levels – compared to Germany – preparations were made for what is now referred to in the USA as managed co-existence or competitive interdependence. The intention is to keep existing conflicts and fundamental differences under control, while the contribution to solving global challenges could grow again.