The bilateral relationship between the two largest economies in the world is not in a good place, and has not been so for many years now.

If anything, the situation remains brittle, and further deterioration can be easily triggered by another “balloon incident”, another round of tariffs and sanctions, an incident at sea, or a visit involving Taiwan. For us in South-east Asia, the proverbial question of “choice” hangs like the Sword of Damocles over our region.