by Jethro Mullen and Charles Riley @CNNMoneyMay 31, 2017: 10:51 PM ET
"The United States and Europe appear to be hurtling toward a messy breakup. China, meanwhile, is ready to pounce.Beijing is in prime position to capitalize on major policy fissures that have emerged between Europe and the Trump administration on climate, trade and defense. The new dynamic will be on full display on Thursday in Brussels, when Chinese Premier Li Keqiang meets with EU counterparts at the annual EU-China Summit. Hours later, President Trump is expected to announce the withdrawal of the U.S. from the Paris climate agreement. "If peace and prosperity are the object of the global economic order, the Trump administration offers neither to Europeans," wrote analysts at High Frequency Economics, a research firm. "A new axis of power, based on economic power, will form between Europe and China if the U.S. continues to shirk its role as global leader." Beijing appears to be chomping at the bit, having asked for the summit to be moved forward to June. . . ."