Western hawks face an unlikely resistance

After marshalling Europe in its proxy war against Russia, America is now determined to repeat this success against China. Here, the consequences for Europe could be even more significant than the economic shock of the past year. Below the surface, however, views are hardening against the EU’s efforts to emulate America’s hawkish approach, which includes economic decoupling (or “de-risking”, as it’s now called) and increasing Nato’s presence in the Indo-Pacific.

Already many European companies are pushing back against the measures, claiming that they place an excessive regulatory and bureaucratic burden on industry at a time of massive economic challenges. Unsurprisingly, German companies are leading the charge: China is the country’s largest trading partner, with total trade last year of nearly €300 billion. Europe’s economic powerhouse has already taken a heavy it from its decoupling from Russian gas and other commodities; with its economy in recession and an inflation rate of 7.2%, Germany cannot afford to lose China as well. The same can be said for the EU as a whole.

For in America, a similar revolt is brewing over the administration’s decoupling with China. Despite the fraying of Sino-American relations at the political level, several American CEOs have continued to visit China. Indeed, we may be on the verge of a new historical class struggle: the owners of the means of production against the owners of the means of destruction.

https://unherd.com/2023/06/the-capitalists-are-revolting-over-china/