China

[Because India cannot tackle China's growing presence on its own,] you have now seen a broader switch in Indian strategy that has involved both developing its own capabilities and welcoming other external actors.

Under Xi, China appears to have adopted the mantra that it is better to be feared than liked. China is committed to sending a message that it will not take a punch without throwing a counterpunch.

It’s striking how little change there was in world trade patterns in 2020. By the end of the year, most of the change was surprisingly small.

Beijing has shown time and time again that it frankly does not care what the international community disapproves of. It is playing by its own rules, like it or not.