This entry is posted on number 17 of Vanity Fair on newsstands until April 22, 2025
Let’s try to put ourselves for a moment in the role of XI Jinpingthe President of the People’s Republic of China who has been in office since 2013 and has a life mandate, which guarantees a certain long -term perspective: how is the great chaos of this phase seen by China?
All in all, not so bad. Within a week the President of the United States, Donald Trump has transformed a total commercial war, with duties against all including islands inhabited only by penguins, in the head -on clash with China.
Much of the duties announced by Trump on April 2 are now suspended, under the pressure of the markets, while the president has increased a lot of those against China who reached 145 percent. Beijing responded with counter-dazi to 125 percent.
While Europe is raised by the suspension of the duties to 20 percent (but those at 10 remain), American citizens have more to worry about the Chinese ones: The barrier against the Made in China It will affect imports that are worth 435 billion dollars a year. The price of the iPhones will explode for the duties against China, not for those against the rest of the world.
Xi Jinping does not worry too much: the Biden administration, a year ago, has put 100 percent tariffs on chinese battery electric cars which are in fact cut off the market, the European Union has applied duties of the 50. Result? Nobody. Today Tesla by Elon Musk is in difficulty, while the Chinese competitor Byd in 2024 sold 4.7 million electric vehicles Against 1.7 of Tesla which also exceeded in revenues (now above 100 billion dollars).
Trumpian chaos does not mind XI even on a political level: With the United States so unreliable, many governments seek new allies. Pedro Sánchez is the Spanish Prime Minister, he leads one of the very few European governments still leftist, therefore he is far from Trump by definition: he met XI in Beijing and spoke from partners, united against a common enemy.
The European Union is all more worried about deciding whether and how to tax American digital services, to treat on duties, but no longer has the same interest as before to limit exports of strategic technologies to China or to limit exchanges on rare green and mineral technologies. Brussels does not want to fight a commercial war on two fronts.
The thing that certainly satisfies more XI Jinping is that This rapprochement with the EU takes place while China continues to guarantee Vladimir Putin Russia the opportunity to fight in Ukrainewith financing and political and commercial support. So, with one hand XI offers help to the Union and with the other it ensures that the EU is not only dependent on China, but increasingly proven by a long war that burns resources and domestic consensus in the various Member States.
If the rearm of Europe will take place in a relaxation phase with China, XI Jinping will have another advantage: The Europeans will go down to defend themselves from Moscow, and not to dissuade Beijing from taking Taiwan. Which XI, during his mandate, matters to do. Possibly without unleashing a world war.
To subscribe to Vanity Fair, Click here.
Source: Vanity Fair
I’m Susan Karen, a professional writer and editor at World Stock Market. I specialize in Entertainment news, writing stories that keep readers informed on all the latest developments in the industry. With over five years of experience in creating engaging content and copywriting for various media outlets, I have grown to become an invaluable asset to any team.
