As we near the end of the year, some geopolitical trends are becoming apparent. One is the growing tension between the US and an increasingly assertive China under President Xi Jinping. Interestingly, the highly polarised US electorate seems largely to concur with the tough policy towards Beijing, promoted by both former president Donald Trump during his time in office and now by President Joe Biden. In 2011, only 36 per cent of Americans viewed China unfavourably; this year, it is a remarkable 82 per cent. This means that the onset of visible and bristling hostility towards the other rising superpower has been welcomed and endorsed by the American public.
A second geopolitical trend that cannot be escaped, and which I had drawn attention to in this space last year, is the accelerating pace of deglobalisation. There is no doubt that the perception of growing economic inequality in western countries has intensified, seriously adding…
