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The war in Ukraine has led to a resurgence in analyses of the Washington-Beijing-Moscow triangle as well as raising questions about Europe’s place in the balance of power. Comparison with the Korean War may help to assess the shifting relationships between the three actors in a number of respects, including: the relative importance of the theaters, risks of escalation, ideological warfare, the play of alliances, the dynamics of rearmament, and internal debates in the United States. The lessons that Washington and Beijing may draw from the conflict, especially with regard to Taiwan, are at the heart of the debate.