Is China Overplaying Its Hand?
Just last year, America’s financial difficulties and foreign entanglements, together with China’s economic ascent, led many to envisage the emergence of a sort of global condominium between the two countries. But, thanks to China's recent behavior on several issues, the idea of a G-2 that resolves major global problems has quickly lost plausibility.
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LONDON – Remember the G-2? America’s financial difficulties and foreign entanglements, together with China’s economic ascent, led many last year to envisage the emergence of a sort of global condominium between the two countries. The G-8 had morphed by necessity into the G-20, which, whenever it really mattered, would shed its zero: the United States and China would call the shots.