There’s no denying that U.S.-China relations have hit a new low, but that’s only part of the picture because the relationship has long been a dynamic one subject to abrupt swings of the pendulum.

What’s more critical is that the new low doesn’t become the new normal. The balance of pros and cons to a cooperative U.S.-China relationship level out in favor of continued engagement, not just in economic terms but in the face of shared civilizational burdens in the face of climate change, pandemics and disruptions of trade.

What goes up, goes down, goes left, goes right; the relationship is a dialectic, always in motion, always seeking a new equilibrium. Call it love-hate, call it temperamental; U.S.-China relations, like any relationship, need constant work, fine-tuning and residual goodwill.