For companies weighing a presence in China, concern about not being in the game has tended to eclipse the risk of being caught up in the country’s geopolitical rivalry with the US. The benefits of access to China’s vast, skilled workforce, modern logistics and low manufacturing costs helped to drive US-China trade to a record last year, even as the pandemic continued to disrupt industrial supply chains. Now, there are nascent signs that a “decoupling” of the world’s economic superpowers, predicted during much of the past decade, is starting to happen. While US officials prefer to say they’re “derisking” trade …