At the G7 summit in Cornwall last weekend, US President Joe Biden warned his fellow-summiteers that unless something was done “China would eat our lunch.” Did Biden overegg the pudding with his colorful language or is the world ignoring the invisible chopsticks at work?
In a sense China, as the biggest trading partner of almost all the G7 members, is already eating part of their lunch while it is clear that without Western investment, technology and, of course, markets, China might have remained hungry and stuck between the madness of Maoism and the inertia of Ah-Quism.
