Delicate balance of trade, economics and geopolitics
Henry Kissinger once said, “America has no permanent friend or enemy, only interests”.
The famous quote should form the cornerstone of foreign policy of any country, as it is demonstrated in the recent visit by US President Joe Biden to the European Union. It was his first formal visit to the European bloc to rekindle the historic transatlantic alliance, which faced a major setback during the Trump era.
Although western powers are gearing up for what they perceive as the emerging threat from the alliance between China and Russia, the global trade data shows that China still remains the largest trading partner of the US and Europe.
As per April 2021 data of the US Census Bureau, the US imported $151 billion of good and services from China, ranking top in the list, and which accounted for 17.5% of the total import bill of the US.
Once again, the geostrategic location of…