The US continues to demonstrate technology monopoly power by restricting trade, it is nothing new. From the past, we saw how it can ruin a successful business empire. You need to follow the US “rules”. Same as well when you do business within China, it has “rules” you need to comply with.
Depending on what side you are on, since the first system book talks about capitalism, by Adam Smith in 18th-century An inquiry into the Nature and Causes of the Wealth of Nations, or well known as Wealth of Nation. Followed by 1980s Michael Porter with a range of series that were famous for market competition theory and framework. Monopoly is a source of power for competition, use well and it will give you absolute power and get what you want in return. In 1990, we had Alvin Toffler Powershift, a great book talking about power, for those who read it before should recall, one scene and one re quote about “Political power grows out of the barrel of a gun (Chinese: 枪杆子里面出政权) is a phrase which was coined by Chinese communist leader Mao Zedong. “. Despite its seeming violence, it did seize the very nature of what power is about. When you gain the rank as world undisputed number 1, and someone starts to challenge you, a lot of sources of power can be used.
In the past we saw Japan after the US, and now we saw China after the US. Unless you predict you can win upfront before engaging in fighting, this is long ancient wisdom since Sun Tzu Art of War published (5th century BC). Alliances are the second source of power. Mobilizing the other alliances and exercising collective pressure against the enemy. As such, in the modern civilized society, it is very hard to see someone who possesses absolute power is falling, unless it is in the extreme cases where you saw during the Arab Spring we saw in the 2010s.
Regardless of how the US-China Trade War is going, the world under COVID-19 pandemic is moving toward endemic recovery and restart. Every country should focus on domestic economic matters. What we need to note is that a powershift is happening, and we expect massive disinvestment from one country will flow into another. In the past we saw China rise as a world factory, it should be an open eye to see what next after and which country or countries will seize the opportunity to rise up in the accelerated momentum.
The US continues to demonstrate technology monopoly power by restricting trade, it should be a lesson for everyone to learn something from it. The next normal without doubt, is focus on accelerated revenue growth, hybrid work and digital transformation (DT). We will see how it will change and impact the world after the next normal.