Three new books on China help bring definition to the emerging economic contours of cold war 2.0
Just over 30 years since the cold war ended, commentators are struggling to describe a new era of great power competition, this time between China and the US-led west. The problem is that so much about this new era is unclear.
Although that share has trended down over the past decade, it still stood at a healthy 14.5 per cent last year. The crisis now, though, is that in the fast-growing electric vehicle segment of the market — which represents China’s future — VW is vanishing into the rear-view mirror. Herbert Diess, VW’s former chief executive, acknowledged his company’s diminished status. “China probably doesn’t need VW . . but VW needs China a lot,” Diess said in 2021.
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