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It’s USA vs. China in an increasingly divided global economy

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China reached a significant milestone last fall: for the first time since opening up its economy more than four decades ago, it traded more with developing countries than with the United States, Europe and Japan combined. It was one of the clearest signs that China and the West are moving in different directions as tensions rise over trade, technology, security and other sensitive issues.

For decades, the United States and other Western countries sought to make China both a partner and a customer in a single global economy run by the richest nations. Now trade and investment flows are establishing themselves in new patterns built around the two competing centers of power.

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