Travelling through South America earlier this year, I was repeatedly reminded of China’s growing importance. At Ezeiza International Airport in Buenos Aires, I spotted the logo of the Industrial and Commercial Bank of China. ICBC acquired an 80 per cent stake in Standard Bank Argentina in 2012, establishing a significant presence. In Buenos Aires, my friend Diego García, a publisher, offered a useful perspective: Argentina does not have to choose between China and the United States. It should...