This year, China became much stronger, while the United States and Europe became much weaker. China could limit the damage due to the Covid-19 pandemic, while the western powers and many other countries are still struggling to do so. The dominance of the world by the sole super power, the US, is coming to an end. China has emerged as the principal challenger. In the emerging bi-polar world, the trade flows of goods, services, and technology can see significant changes in the coming decade.
Under President Donald Trump, the US has been weakening the global institutions like the World Trade Organization,
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