Is China raising or simply taking back the role that it has always had? How can the West understand and face this reality? With Biden there will be less focus on trade balances, hence good for EU and Italy which enjoy a surplus with the US. However, he will also have a stronger push towards free trade, therefore good news for those economies who are best equipped to take advantage of liberalism. More challenging instead will it be for economies, like Italy, which are stuck in the past and show little labor flexibility to face the new world.