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2020: A Pivotal Year
- The COVID-19 pandemic, the resulting economic crisis, and the US-China rupture are pivotal historical moments.
- Historians will likely point to 2020 as a turning point due to these converging currents.
American Power vs. Authority
- American power remains significant, exemplified by the Federal Reserve's role in stabilizing global markets.
- American political authority has declined, marked by the Trump administration's incoherent and irresponsible handling of the pandemic.
China's Power Dynamics
- China appears more competent than the US due to its COVID-19 response and economic growth.
- It faces increased diplomatic isolation and criticism regarding Hong Kong, Xinjiang, and other issues.