The US-China rivalry is descending into a new “cold war” that is fracturing the world into two blocs and will force the EU to choose sides, experts said at the 50th St. Gallen Symposium on Thursday. Â
Speaking at a session moderated by David Bach, IMD’s Dean of Innovation and Programs, they expressed concern that the EU is in danger of becoming a hapless plaything in the escalating tensions between the world’s two biggest economies.  Â
Ann Lee, a leading authority on China’s economic relations, rejected claims made by America’s top diplomat Antony Blinken on Tuesday, who tried to downplay the country’s tensions with China during a separate conference.  Â
“If you look at what the US has done in the last few years in terms of stepping up tensions with China, like starting a trade war, like imposing restrictions on US companies being able to sell semiconductor chips to China, or forbidding…