While the new French leader will focus an enormous amount of resources on domestic reform, he will also try to accomplish something big in foreign affairs. As a pro-EU president of France, Macron will make the restart of the Franco-German engine his primary task.

However histrionic the demagogic oratory of President Trump has been, his strategy to revitalize American manufacturing will be better served by exporting more to China, not decreasing Chinese imports. China’s gigantic market has thus become the golden apple of discord in an accelerating geo-economic competition between the United States and Germany, which already enjoys significant production networks within the Middle Kingdom. Yet unlike the days of the Boxer Revolution and the alliance of eight Western nations, China can this time choose her major commercial partners.

This week, leaders from across Europe head to Laos for the Asia-Europe Meeting. Will the EU follow in the footsteps of the US and make a pivot to Asia?