News Snapshot:
In the coming year, we will see not greater multipolarity, but greater bipolarity. China has replaced Russia as America’s main competitor in a new cold war that is less about ideology and more about markets and technology. The $18 trillion Chinese economy has already overtaken that of all 27 European Union countries combined, and China is the largest trading partner to more than 120 countries. Its Belt and Road Initiative continues to build infrastructure around the world, and the Beijing-based Asian Infrastructure Investment Bank (with a $100 billion capitalization) has 109 members representing 80% of the world’s population. In January,...
