If you had any doubt that global power dynamics are shifting, one image from the past week put paid to that.

It was Indian Prime Minister Narendra Modi, grasping Russian President Vladimir Putin’s hand and leading him across the floor at the Shanghai Co-operation Organisation summit to chat with Chinese President Xi Jinping.

Anyone who has spent any time in India knows that China and India are not close. There is no quicker way to insult Indian hosts that to compare the world’s most populous nation, in any way, with China.

But things are changing, partly due to Trump’s chaotic tariff regime. Last week, David Armstrong brought us the........

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