mandag 4. januar 2021

Trump’s America lost to China in an economic chess game, and Biden is unlikely to win

Donald Trump has been busy throughout his disastrous presidency slashing and burning trade and investment agreements which the United States had carefully crafted over many years. Meanwhile, China has been equally busy creating a powerful arsenal of trade and other accords with key partners.

This process moved a significant stage further forward with the reaching of the Comprehensive Agreement on Investment (CAI) between China and the European Union on December 30, just one month after Beijing signed the Regional Comprehensive Economic Partnership (RCEP) with 14 partner nations.

As Hung Tran at the Atlantic Council in Washington says: “In addition to the CAI, the RCEP and China’s growing trade and investment relationships with developing countries – especially those carried out under the Belt and Road Initiative umbrella – have constituted a vast and viable economic living space for China.”