The China-US tensions are not going to get better, and, in fact, will get worse as years go by. More and more nations will be forced to choose sides. It's not good and I'm not sure what a resolution even looks like.
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It’s like being caught in a fight between your drunk uncle and your berserk cousin.
Europe does not have to align with either side. It is a superpower in its own right if it gets its shit together (one can dream).