The US-China trade war instigated by President Trump has thrown the multilateral trading system into a crisis. Drawing on vast interview and documentary materials, Hopewell shows how US-China conflict had already paralyzed the system of international rules and institutions governing trade. The China Paradox – the fact that China is both a developing country and an economic powerhouse – creates significant challenges for global trade governance and rule-making. While China demands exemptions from global trade disciplines as a developing country, the US refuses to extend special treatment to its rival. The implications of this conflict extend far beyond trade, impeding pro-development and pro-environment reforms of the global trading system. As one of the first analyses of the implications of US-China rivalry for the governance of global trade, this book is crucial to our understanding of China's impact on the global trading system and on the liberal international economic order.