Europe has been forced to strike out on its own, frequently dropping its deference to the United States. Now it awaits the outcome of the U.S. election. But even if Biden wins, the U.S. may not regain its position as the world’s center of gravity. The interests of China and Europe will steadily converge.

The European Union wants to forge stronger bonds with China because its members know what that means. As the world’s second-largest economy, and with its immense consumer market, China has a lot to offer.

The COVID-19 pandemic has ushered in an era of seismic change that has strained relations. But if handled properly, it’s an opportunity to establish even stronger ties going forward.

While the Eurozone is increasingly at risk of fracture, China benefits most from a unified Europe. China should be weary of European skepticism towards China’s aid during the COVID-19 crisis, especially as the EU debates its own internal dilemmas.

Populist forces increasingly make it hard for the EU to move forward. Now, the pandemic has triggered a new set of problems, impeding interaction between China and Europe.

As long as Chinese money continues flowing into Greece China’s influence will continue to expand, raising U.S. fears of a further deterioration in NATO’s southeastern flank.

China seeks to expand its influence in Europe as the trade war with the US wages on, while EU countries grow increasingly torn between the two global powers. China’s strategy to appeal to European nations has grown more nuanced and varied, working with an understanding of existing EU power dynamics.

The confrontational US attempt to strike China through technological decoupling can only reinforce the notion among Chinese that their country will have to rely on itself in the long term. Chancellor Merkel’s rhetoric was more constructive.

The latest escalation in US-China economic frictions points at worrisome trends. In the short run, US allies may benefit from US-China economic tensions, but serious dangers lie ahead.