When US President Donald Trump announced that 5,000 US troops would leave Germany, the immediate reading in Western capitals was political: another round in Trump’s running quarrel with European allies, triggered by German Chancellor Friedrich Merz’s criticism of Washington’s handling of the war with Iran. For Beijing, the more interesting reading is structural. The drawdown coincides with a period in which Foreign Minister Wang Yi has spent much of 2026 cultivating a “partners not rivals”...