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The world order of the last few decades may be over — what emerges could include China

U.S. President Donald Trump, left, and President of the People's Republic of China Xi Jinping.

As U.S. President Donald Trump imposes global tariffs, and the two largest economies escalate their trade war, the current world order as we know it is shaken, if not over. What will emerge is still unclear, but some analysts say China and other Asian countries will likely play a bigger role.

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