I don't know if I would say Cold War. There is not going to be a repeat of the US-USSR. That was Cold War. But the US and China are economic rivals. And that rivalry will likely intensify after this move by Beijing.
I don't think this is Beijing responding to the Hong Kong protests. I see this as Beijing reacting to the pandemic and how it is hammering the Chinese economy as every other economy.
That also explains the border tensions in Ladakh.
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