In the big scheme of things, the new grand chessboard isn't Western capitalism versus Soviet communism; it's the West versus the East and China is in the pole position. Slap China with trade tariffs, they dump Treasury bonds and send interest rates higher for American corporations. In this topsy turvey world, the United States has the military and the money. Gideon Rachman is not the only man to have this idea about the post-Western world being led by the Chinese. "Easternization: Asia's Rise and America's Decline from Obama to Trump and Beyond", published late last year, is his second stab at America's decline.

Source: Forbes March 26, 2017 21:00 UTC