This is, of course, a fully subjective and theoretical topic, but this is what i think could happen if we ever meet extraterrestrial, intellegent life. one scenerio that i think could happen is that the aliens are friendly, and so are we. we could possibly establsh a trade standard of common currency, and learn to trade and push science in further directions using resources that we never before had acess to. i belive this is the least likely possibility.
the next scenario is that one of us are friendly, and the other is not. i think that if this happens, this state will not last long, as one of our agressions would quickly be given back by they other party. this would result in intergalactic war, and the outcome of that war is unclear to me.
the final scenario that i think could happen is that neither are friendly. this will likey result in a large war.
there is also another scenario in this hypothetical: we discover another planet with life, but the life there is far less intelegent than us. if this is the case , i belive that we will end up colonizing thier planet and putting people there.
many of these scenarios have been considered in pop culture