Prepare for the U.S. and China to Decouple"already witnessing the
opening skirmishes of a new Cold War."
INTERNATIONAL BUSINESS
Prepare for the U.S. and China to Decouple
by Michael A. Witt
June 26, 2020
While Covid-19 has dominated news for much of the year — and understandably so, as people and businesses fight for their survival — a larger, longer-lasting problem has been unfolding in the background, which many businesses will soon need to contend with: As de-globalization accelerates, two hostile economic blocs are emerging, one centered around China and the other around the United States.
Arguably, we’ve been headed towards this moment for a long while. De-globalization has been under way for more than a decade: At best, international trade was stagnating before the pandemic hit, and foreign direct investment had fallen by 70 percent in 2018 from its peak in 2007. Never easy, Sino-U.S. relations have taken a more confrontational turn under Xi Jinping. By 2018 we were already witnessing the opening skirmishes of a new Cold War.
https://hbr.org/2020/06/prepare-for-the-u-s-and-china-to-decouple