The rivalry between the two superpowers is starting to feel eerily familiar. "For students of the first cold war between the US and the USSR, some of this sounded eerily and worryingly familiar. Once again, the US is facing off against a rival superpower. Once again, a military rivalry is taking shape — although this time, the main theatre is the western Pacific rather than central Europe." The Financial Times' Chief Foreign Affairs Commentator Gideon Rachman analyses.