Between Beijing and Washington, how long can ‘constructive strategic stability’ last?

<jats:p>Key Takeaways - The joint adoption of the term ‘constructive strategic stability’ after the May 2026 US–China summit revealed a shared recognition in Beijing and Washington that competition must be managed within a framework of limited stability, to allow both powers to pursue their domestic priorities while avoiding the costs of uncontrolled confrontation. - The summit did not alter the legal or institutional foundations of US policy towards Taiwan, but Trump's rhetoric and diplomatic priorities in other parts of the world may have encouraged China's strategic community to reassess Washington's willingness to shoulder the costs of direct military intervention. - The domestic priorities of both countries will ultimately determine the sustainability of constructive strategic stability. For the US, these are centred on the cost of living and Washington’s military adventures in the Middle East. For China, the focus is on buying time to build technological self-reliance and to deliver the core elements of the 15th Five-Year Plan.</jats:p>