In China, that conflict is known as the “War to Resist US Aggression and Aid Korea,” and is seen as a great victory, a view shared by Pyongyang, though North Korea failed to make any gains after its initial invasion of the South was rebuffed, and would likely have been defeated but for Beijing’s assistance.
Taiwan has emerged as a major potential flashpoint between the US and China in recent years, as Washington has become more forceful in its approach toward Beijing and China adopted a threatening posture towards the self-ruled island, which it has vowed to seize militarily if necessary.
“Despite its continuing pre-eminence, US standing has waned,” Lowy noted in its recent Pacific Power Index. “Washington, far from being the undisputed unipolar power, can more correctly be described as the first among equals in a bipolar Indo-Pacific.”
Meanwhile, the report said, “Beijing has enhanced its military capability by investing in weaponry that could threaten US and allied bases in the region.”