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M*E*S*S
"The speech was just a notch below calling for regime change â and at the very least for Western d
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Shorter Pompeo: “There can only be one uncontested global hegemon with the resources and might to destabilize other countries in service to its own economic interests. And it ain’t gonna be China.”
Beyond blatant racism and xenophobia, the timing of the speech appears to be off. Coming as it does after three and a half years of Trump trampling on international order and relationships.
China has changed their approach. They are no longer biding its time. It makes the Allison analysis about the Thucydidesâs Trap highly relevant. The consensus view is that the Cold War is a bigger negative for China than the rest of the world. That is not that convincing, particularly if China weaponizes the currency which seems an option they have up to now rejected for many well known and stated reasons. So far it is difficult to argue that the China risk, as front and centre as it appears to be, is actually discounted by markets, particularly in the tech sector.