We have entered a New Cold War. The US is attacking on China on many fronts. It cannot accept China’s rise. Like all hegemons, it cannot imagine a world in which it is no longer dominant. But in reality the US is in rapid relative decline. Its dominance has become an anachronism. The fact is that an international system led by China and the developing world will be much superior to one characterised by Western dominance, with the US and Europe accounting for less than 15% of the world’s population.