In this article, I analyze China’s economic trajectories and global positioning in the aftermath of the COVID-19 pandemic and the crisis of neoliberal globalization. I examine how the initial model of economic partnership with the United States broke down following the 2008 financial crash, giving rise to Washington’s aggressive decoupling strategies and trade tariffs. In response, Beijing launched the ambitious Belt and Road Initiative (New Silk Road) to vent domestic overproduction, secure raw materials, and expand into international markets. I explore the escalation of the Sino-American rivalry across monetary, trade, and technological domains, particularly in 5G and green technologies. Furthermore, I evaluate the internal political debates and social tensions within the Chinese state, emphasizing that the ultimate outcome of China’s global strategy will depend on domestic class dynamics and international political alignments.