Europe and China are natural allies in the world’s emerging bloc of electro-tech economies.
Both are large net importers of oil and fossil fuels. Both have a strong incentive to end this dangerous vulnerability as fast as possible.
Trump is pushing China and Europe together to create a new world order
BY Ambrose Evans-Pritchard
The new line of strategic cleavage in global affairs is the clash of interests between those betting on total electrification, led by China, versus those betting on the old energy order, now led with ideological fervour by US President Donald Trump’s America.
Three quarters of humanity live in countries that run fossil deficits on their trade accounts and are bleeding their national wealth to the other quarter, which collects the rent.