This fall, U.S. National Security Advisor Jake Sullivan noted that the Biden administration is “often asked about the end state of U.S. competition with China.” He argued that “we do not expect a transformative end state like the one that resulted from the collapse of the Soviet Union.” Instead, the Biden administration has identified three lines of effort in U.S. relations with China: investing, aligning, and competing. Investing comprises domestic initiatives in the United States while aligning involves cooperation with allies and partners. Thus, the only portion of the Biden administration’s China strategy that explicitly centers on China is competition. Yet, competition does not amount to an objective in itself, but rather a description of current circumstances. As White House Coordinator for the Indo-Pacific Kurt Campbell has warned, “competition is not itself a strategy.” Indeed, before taking office, Campbell and Sullivan argued that an approach centered on strategic competition “reflects uncertainty about what that competition is over and what it means to win.” So the question remains: What is America’s vision of success?