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The End of “Chimerica”

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BERLIN – The escalating rivalry between China and the United States is ushering in a bipolar world. While the past few decades have been defined mostly by cooperation among the world’s leading powers, the next few will be marked by zero-sum competition. Already, globalization and the deepening of ties between countries is giving way to what has euphemistically been called “decoupling.” Countries and regions are sorting themselves into smaller economic and geopolitical units under the guise of “taking back control.”

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    All of these trends are on display in the fight over the Chinese technology giant Huawei, a multinational company that purchases components from the US, Europe, Brazil, and elsewhere, sells its products in 170 countries, and is leading the expansion of 5G networks in many parts of the world. Until recently, Western businesses welcomed Huawei’s low-cost,........

    © Project Syndicate