Regardless of who wins the midterm elections, the U.S. is likely to impose more restrictions on China’s access to critical technology on national security grounds. The hawkishness will likely ratchet even higher if Republicans gain control of one or both chambers. If there is one area of common ground among Republicans and Democrats, it’s that they are both viewing the relationship with China through a national security lens. As attention turns post-midterms to 2024, both sides will brandish “tough on China” credentials, laying the path for more measures to bolster U.S. competitiveness versus China and head off security risks. The...