As US–China competition deepens, where does Pakistan stand? With nearly 80% of Pakistan’s defense supplies linked to China, and economic dependence on Western institutions like the IMF and World Bank, Islamabad faces a delicate strategic balancing act. Is Pakistan enjoying a tactical “honeymoon” with Washington? How durable is this phase? And what does China’s rise mean for middle powers navigating a shifting global order? In this discussion, we explore US foreign policy under President Donald Trump, Pakistan–China strategic ties, CPEC’s trajectory, India’s changing equation with Washington, and the broader implications of great power rivalry for South Asia. Is the US declining? Is China the new rule-setter? And most importantly, can Pakistan fix its internal ecosystem to seize this geopolitical moment?