The world is now witnessing the rise of China, which has a global reach and real implications for the transatlantic community. As new challenges and opportunities unfold, the United States is seeking to formulate an adapted approach to China in cooperation with its closest allies and partners in Europe. To inform this effort, in his latest report, Atlantic Council distinguished fellow Franklin D. Kramer suggests a strategic approach of “managed competition” to meet the full spectrum of challenges posed by China, including economic and innovation, diplomatic and influence, and security, both hybrid and conventional military.