The Two Sovereignties: How the U.S. and China Wrestle with Themselves

Sovereignty isn’t about borders or flags - it’s about who truly governs within them.

The United States and China, the two most powerful nations of the 21st century, command vast global influence yet remain deeply constrained at home. America’s sovereignty is fragmented by markets and lobbying; China’s is concentrated but indebted. Both are powerful, but neither is fully sovereign.

1. The Hidden Limits of Power

Sovereignty, as used here, m…