The conflict between the United States and China is deepening, with both countries’ foreign policies bogged down by their respective domestic politics.
And if the U.S. abandons its leadership role as a global superpower, it will inevitably undermine the existing international order. In fact, the conflicts in Ukraine and Gaza keep raging with no end in sight, and in Asia tensions remain high in the Taiwan Strait and the Korean Peninsula.
The U.S. is linked to the world economy through intra-industry trade based on global value chains (GVCs). Former President Donald Trump refused to believe that the rules set by multilateral agreements such as the Trans-Pacific Partnership (TPP) were in America’s interest and there was hope that President Joe Biden would bring some stability to U.S. trade relations.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.