I have long thought the world is in the process of bifurcating into two economic ecosystems, one led by America and the other by China. As is now obvious to the world, the split is accelerating as China’s global ambition runs headlong into President Trump’s 21st century version of the Monroe Doctrine that is best thought of as the Americas First movement. The United States is clearly focused on partnering with neighbors in the Western Hemisphere and providing notice to the Chinese and other foreign powers that North and South America are off-limits.

On the other side of the world, however, China is effectively telegr...