“The Europeans are dealing with a rising power over there, and a declining power here,” says Wolff.

“I think Americans particularly have got to understand that the Chinese economy is a powerhouse. They handled this Covid way better than the United States. They have avoided the economic catastrophe that we have here; accompanying that, they are moving quickly, they already were a growing power, they’ve grown faster than the United States for the last 25 years,” he added.