U.S.-China spiral of competition is ‘alarming’

The U.S. and China remain locked in a wrestle for power, and it’s worrying that they’re not working to engage and collaborate with each other, energy expert Dan Yergin told CNBC.

He was weighing in on a Reuters report that cited sources saying U.S. President Donald Trump is planning to add China’s national offshore oil and gas producer, CNOOC, to a defense blacklist.

Yergin, who is the vice chairman of IHS Markit, said the move may be part of the notion of “decoupling,” or a disengagement between the two countries.

“It’s an alarming situation, we have a spiral going on now where instead of talking about engagement and collaboration and constructive relationship, it’s great power…