In the same way that the US cannot let China have de facto control over the South China Sea, the US cannot permit the NSR to become a waterway over which Russia exercises unilateral jurisdiction.
With the ongoing trade war causing highly volatile relations between the United States and China, new evidence is emerging that the PRC (People’s Republic of China) is reevaluating its position in the face of hardening American opposition.
The trade war between the world’s two largest economies is entering its second round, and China is taking a beating. Bloomberg writes that China has recently ceded its position as the world’s second largest economy in terms of market capitalization to Japan, whose equities it eclipsed previously in 2014. Chinese equities dropped in value to $6.09 trillion USD slipping well below the Japanese equity market, which is currently valued at $6.17 trillion USD.