It is difficult to say how the story of US House Speaker Nancy Pelosi’s visit to Taiwan last week will end for the three countries directly involved – the US, China and Taiwan (yes, I don’t have to follow the ‘One China’ policy) — and for the world at large. Or, perhaps, there will not be an end, rather it is the beginning of a new, more intense phase of US-China rivalry. The Biden administration sought to downplay Pelosi’s visit by saying that there was no change in the US stand on ‘One China’, but it has also played along…