News Snapshot:
The law of unintended consequences is undermining U.S. strategy for the Indo-Pacific, as trade ties between U.S. allies and partners in Asia with China are growing despite U.S. admonitions against dependence on China. Recent data show that China’s trade with all 10 ASEAN nations rose 71 percent last year and grew 49 percent with India. In fact, despite sanctions and tariffs, China’s trade with the U.S. grew to $657 billion in 2021, a 28 percent increase over 2020, and was projected to increase in 2022. Aligning global trade and investment with geopolitical goals rather than market forces is often problematic....
