Complex sentence: Most believe that the United States and China will ultimately develop a balance of power with their own spheres of influence, with competition as well as cooperation, while the extreme minority believes a war with the United States is impending, the most likely spark being Taiwan.
Split into simpler sentences: Most believe that the United States and China will ultimately develop a balance of power with their own spheres of influence, with competition as well as cooperation. Though only the extreme minority believes a war with the United States is impending and the most likely spark being Taiwan.