After China became a member of the World Trade Organization in 2001, this process accelerated, with Western companies and investment pouring into the country, and cheap manufactured products flowing out of it.
As China's role in global value chains grew, its problematic trade practices -- from dumping excessively low-cost goods in Western markets to failing to protect intellectual-property rights -- were increasingly distortionary.
In fact, China has changed the international system much more than the system has changed China.
As U.S. President Donald Trump has learned during his ill-fated trade war, wringing concessions out of China is more difficult than ever.
The U.S. has gradually withdrawn from global leadership.
This has produced a golden opportunity for China to begin constructing a parallel system, centered on itself.
Yet many, including in Europe, are not particularly concerned about the emergence of this parallel system.
The solution is not for Europe simply to take America's "side" and turn its back on China.
In this sense, the recent joint statement by Xi and French President Emmanuel Macron reaffirming their strong support for the Paris climate agreement is promising, as is Europe's growing recognition that China is not only a partner or economic competitor, but also a "systemic rival".
...