Everything looks to be going China’s way: Beijing has a stranglehold on the world’s critical minerals, and its high-tech manufacturing has rapidly become world-leading. Its massive trade surplus is undermining vital industries in the rest of the world. Is this part of a Chinese masterplan for world domination? The truth is a little more nuanced than that. Soumaya Keynes speaks to Jessica Chen Weiss, director of the Institute for America, China, and the Future of Global Affairs at Johns Hopkins School of Advanced International Studies. They discuss why decoupling is a “fantasy”, what “middle powers” are doing better than the US and the social and the domestic challenges that still hold China back.

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Further reading

A cold peace between the US and China is good enough

Pete Hegseth says US-China ties are ‘better than in years’

America needs to put the renminbi back on the international agenda

Hosted by Soumaya Keynes. Produced by Mischa Frankl-Duval. Original music and sound design by Breen Turner. The executive producer is Manuela Saragosa.

Read a transcript of this episode on FT.com

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The US-China decoupling fantasy, with Jessica Chen Weiss

The Economics Show

The US-China decoupling fantasy, with Jessica Chen Weiss