As the tension between China and the USA gets more extreme, five myths have become common in the United States. These myths deserve closer scrutiny to ensure that all discussions will be based on sound analytical judgments. Such myths include China’s economy is on the precipice of collapse. Beijing can effectively plan the country’s future for several decades, and Xi Jinping is preparing for an imminent invasion of Taiwan. In addition to the myths, include Beijing will engage in military adventurism to distract from domestic crisis and that the U.S. policy of engagement was a total failure.