Yesterday’s News 2026 05 28

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each country's bigger trading partner US vs China 2000 vs 2025

James Eagle: China has rewired global trade

The most important geopolitical change of the past 25 years is visible in ports before it is visible in speeches. In 2000, the US was the larger goods-trading partner for much of the world. By 2025, China had taken that position across large parts of Asia, Africa, Latin America and Europe.

The chart is about goods trade, not services, investment or military power. That caveat matters. It also makes the message cleaner: the physical economy has bent towards Chinese factories and Chinese demand.

This is why decoupling is so difficult. A country can distrust Beijing, welcome US security guarantees and still rely on China as its dominant commercial counterparty. Trade creates a form of dependence that cannot be unwound by rhetoric.

The China story is too often told as a clean contest with the US. The better reading is messier: countries can fear Chinese power, rely on Chinese trade and still want American security.

(James Eagle more…)


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