The number 1 economic advantage of the United States in competition with China
Wolff: The United States and its allies are still more united and economically stronger than the Chinese 
Not long ago, “most governments believed that closer economic integration would boost long-term prosperity. Today, integration is seen as a source of risk and insecurity,” London-based Capital Economics said in a statement. The fragmented world economy in 2024″ wrote an interesting analysis. Economics and politics always influence each other. However, politics has become more important today. In other words, the risky U.S.-China relationship is reshaping the global economy.
Capital Economics believes that countries around the world can be divided into five camps: the United States and its close allies; countries that tend to support the United States; non-aligned countries; countries that tend to support China; and China and its close allies. The first category of countries includes the United States, Canada, European countries (except Hungary), Japan, Australia and New Zealand. Countries in the second category include India first, but also Colombia, Mexico, Morocco, Turkey and South Korea. Non-aligned countries mainly include Brazil, Indonesia and Nigeria. Countries that tend to support China include Argentina (yes, until a few days ago!), most African countries (including South Africa), Iraq, Kazakhstan, and (Capital Economics believes) Saudi Arabia. Finally, China’s staunch allies include Russia, Iran and Pakistan.