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High-level trade talks last week between the US and China grabbed headlines around the world, but in many ways they were beside the point. In the years ahead, tariffs and industrial policy — the main focus of the talks — will probably matter less in the growing competition between the two countries, while another, much quieter initiative will matter more.
As China boosts overseas investment through its Belt and Road infrastructure programme, it is increasingly dictating not just the terms of financing but also a broader set of technological applications. In doing so, it is altering the global competitive
As China boosts overseas investment through its Belt and Road infrastructure programme, it is increasingly dictating not just the terms of financing but also a broader set of technological applications. In doing so, it is altering the global competitive
