New Delhi, May 19 -- The just concluded Trump-Xi summit is fundamentally different from the last meeting that took place in China during President Trump's first term, or even from the most recent face-to-face encounter last October in Busan, South Korea.

This meeting took place at a moment when several major fault lines in the global order are converging at once: the Iran war, Taiwan, trade tensions, rare earths, artificial intelligence, semiconductor controls, energy security and the future balance of power in the Indo-Pacific. Both leaders wanted to maintain clarity and a managed relationship in the years ahead, while also maximising leverage and preserving strategic cards.

As expected, no substantial high-consequence deal was reached...