Asian financial integration is becoming a lasting feature of the political and economic reality in Asia and will pose a growing challenge to U.S. leadership in the Pacific. Washington should not shy away from this competition.
Most Chinese apparently believe that China’s rightful place in the international order is as a major (not singularly dominant) power whose views must be respected but who exists in general harmony with other nations.
To allay neighboring countries’ misgivings about Beijing’s growing assertiveness, China must match its verbal commitment to harmony and win-win collaboration with concrete actions.
Our take on the year ahead.
Opposing views on issues like ballistic missile defense and tactical nuclear weapons complicate, but should not preclude, trilateral security cooperation between Washington, Beijing, and Moscow.
President Obama’s trip to China produced important bilateral visa, military, and climate agreements, yet much work remains to implement this ambitious agenda.
The BRICS countries are establishing the New Development Bank to expand economic assistance to developing countries beyond that offered by the Bretton Woods institutions.
China has enjoyed decades of rapid growth, but remains a developing country where urban and rural citizens have vastly different economic opportunities and income levels.
China faces challenges in achieving the ambitious carbon emissions targets announced during APEC, yet the country’s progress on clean energy technology could also benefit other developing countries.
As interactions between China and African countries grow, observers see potential for the cooperative relationship to revitalize Africa and promote much-needed economic development.