Global middle powers moved to strengthen their alliances in a bid to shield their economies from US unreliability and Chinese aggression.

Australia has recently reached trade agreements with nations as far afield as India and Peru as it vies to reduce its reliance on the world’s two biggest economies. And Canada — whose prime minister in Davos this year issued an urgent call for middle powers to band together — has grown closer to Brussels, recently winning concessions for Canadian firms to participate in EU procurement.

Still, these medium-sized nations face major hurdles in cutting their exposure to Washington and Beijing: Europe still relies on US security guarantees, while countries globally depend on China for imported goods, and as a key export market.