In this high-level geopolitical dialogue at EDGE 2026 in Sydney, Pippa Malmgren and Victor Gao, moderated by Harry Hui, examine the evolving nature of American global influence and the structural transition toward a multipolar world.

The discussion explores internal political factions shaping national strategy, the debate around American overreach and retrenchment, the trajectory of US–China relations, and the role of deterrence, rare earth supply chains, military capability, and artificial intelligence in redefining global power dynamics.

Rather than offering a single narrative, the session presents contrasting strategic perspectives on expansionism, sovereignty, economic leverage, and long-term stability between major powers.

Key Takeaways:
• National strategy is increasingly influenced by internal political factions rather than unified positions.
• The debate over American expansionism reflects broader structural shifts in global power.
• US–China relations may evolve through both rivalry and structural interdependence.