Chapter One: Introduction

· The derisking race defined

· Origins

· The failure of engagement

· The dynamics of the derisking race

Chapter Two: From ‘hiding and biding’ to the ‘period of strategic opportunity’

· Introduction

· ‘Hiding and biding’

· The ‘period of strategic opportunity’

· ‘Going out’ in pursuit of resources

· Securing fresh sources of demand

· Beginning to hedge against the dominant dollar

· Pushing for ‘indigenous innovation’

Chapter Three: From engagement to derisking

· Inertia and anxiety

· Trump’s trade war upends engagement

· Joining the derisking race

Chapter Four: The dangers of dependence

· Introduction

· Initial moves

· Consolidation and expansion

· Assessment

Chapter Five: The perils of penetration

· Introduction

· Components

· Hardware

· Assessment

Chapter Six: Constricting access to US technology

· Introduction

· Export controls

· Inbound investment

· Outbound investment

· Assessment

Chapter Seven: The primacy of power

· The end of the ‘period of strategic opportunity’

· Demand: sustaining growth in a more dangerous world

· Money: circumventing the dollar’s dominance

· Technology: breaking ‘blockades’, grasping the ‘assassin’s mace’ and seizing the ‘commanding heights’

· Resources: reducing vulnerability and enhancing leverage

· Assessment

Chapter Eight: Escalation or truce?

· Trump
2.0

· Handling ‘changes in the external situation’ and ‘managing our own affairs well’

Chapter Nine: The derisking race: past, present and future

· A preliminary net assessment

· Derisking and fragmentation

Notes

Index