Posted at November 3, 2015, by Raleigh Addington, Comments Off on “Whose Century Is It, Anyway?”: watch award-winning journalist Clay Chandler chair debate on the US-China power shift
Despite slowing growth rates and recent turbulence in its stock markets, China remains the global economy’s most important source of growth. It is now widely believed, even under the most conservative assumptions, that China will overtake the US as the world’s largest economy sometime within the next 10 years. After more than a decade of rapid economic expansion and double-digit increases to its military budget, China shows a new confidence on the global stage.
In an effort to understand these shifts in power, and bring new insights on the future of the global economy and the relations between the US and China, the Asia Society Hong Kong Center put together a panel of distinguished experts, chaired by Clay Chandler– an award-winning journalist and leading analyst of Asia’s key economies – to debate over the topic of “Whose Century Is It, Anyway?”.
Is the era of US global leadership finally drawing to a close? Is it already over? Will it be replaced by an “Asian Century” led by China? How might an Asian Century differ from the status quo? Watch these experts weigh in on matters of money, power, prestige and the future of the global economy.
Posted at April 2, 2015, by Raleigh Addington, Comments Off on “UK’s joining of AIIB marks critical shift in global financial order” claims Asia expert Martin Jacques
In an article for the Global Times, Martin Jacques, one of the world’s leading commentators on the rise of Asia, has argued that the “UK’s joining of AIIB marks critical shift in global financial order.”
By ignoring pressure from America not to join, Martin claims that Britain’s decision to join went entirely against the grain. He believes that “Britain wanted to show China and the world how serious it now was about its relationship with China,” because the country will prove “a potential source of much-needed investment.”
Martin says that this is exactly the opposite of what the US wants – a rival not only to the Asia Development Bank, but in some respects the World Bank itself. He adds that “if the US refuses to join Chinese-inspired institutions like the AIIB, the more isolated it will find itself.”
Posted at March 19, 2015, by Raleigh Addington, Comments Off on International economist Jim O’Neill discusses why the US has to “make space for China” on the global stage
Writing for Project Syndicate,Jim O’Neill, best-selling author of “The Growth Map” (2011), argues that the US has “to make space for China…[and] accept its heightened global role.”
This comment follows from the UK’s agreement to become a founding member of the China-led Asian Infrastructure Investment Bank (AIIB), and the ensuing friction this caused with the US. However, Jim argues that “America’s reluctance – and that of France, Germany, and Italy – to give the emerging powers an appropriate voice in the established international financial institutions is counterproductive.”
China’s $10 trillion economy is bigger than those of France, Germany, and Italy combined. Jim explains that “for anyone who wants to engage in global trade, it is thus vital to identify what China wants.” He suggests that a “new G-7 needs to be created within the G-20, thereby providing China with a degree of influence that reflects its economic weight and requires it to assume a commensurate proportion of global responsibility.”
Jim goes on to warn that opposition to this would “risk accelerating the decline of the established international financial institutions.”
Posted at January 23, 2015, by Raleigh Addington, Comments Off on Ambassador Curtis Chin outlines what Obama should have said about Asia’s rise but didn’t
In his annual State of the Union address, US President Barack Obama missed an opportunity to underscore the value of strengthened trade relations with Asia, says Curtis Chin, Managing Director of RiverPeak Group.
Curtis believes that whilst it’s understandable that Obama mostly focused on issues at home while spending relatively less time speaking about foreign affairs, he did little to convince skeptics of his commitment to the work it will take to move forward a comprehensive trade agreement with 11 Asian-Pacific nations.
Armed with stats -28% of U.S. goods and 27% of U.S. services exports go to Asia; 8.5 million visitors from Asia contribute $41 billion to the US economy – Curtis explains that “America’s security and prosperity are closely and increasingly linked to Asia and the Pacific.” He goes on to say that Obama has another chance to communicate this message during an upcoming three-day visit to and summit in India; Curtis suggests he addresses this critical point.
Posted at November 1, 2013, by Raleigh Addington, Comments Off on Ambassador Nick Burns on US-China Relations
It was great to have a coffee with Ambassador Nick Burns whilst I was passing through Boston earlier this week. Now a Professor of the Practice of Diplomacy and International Politics at Harvard, Nick had a stellar diplomatic career that saw him serve as US Under Secretary of State for Political Affairs (2005-2008), US Ambassador to NATO (2001-2005) and US Ambassador to Greece (1997-2001). During this period, he also led key strategic negotiations with India, Israel and Iran.
Nick continues to be one of the leading analysts of US foreign policy and its relations with the Middle East, APAC, South Asia, Europe and Latin America. In a recent Op-Ed in the Boston Globe, he proposed 3 key pillars of an effective US engagement with China in the 21st Century:
“First, Obama and Kerry should commit to more frequent meetings with the new Chinese leadership. American leaders still spend far more time with their European and Middle Eastern counterparts than they do with Chinese leaders. Engaging China is not a panacea but is the only way to begin building greater confidence and trust. Personal ties often matter in international politics. Thus, early meetings with Xi Jinping are imperative.
Second, the United States can look for progress where our interests are congruent with China’s — from ensuring stability in Afghanistan after the drawdown of NATO forces to combating piracy in the Horn of Africa to rebuilding the global economy.
Third, China has resisted working closely with the United States on Iran. Obama and Kerry can’t hope for dramatic progress overnight, but they can signal that greater Chinese cooperation to convince Iran to negotiate seriously on its nuclear program will be an early test of US willingness to help China on issues vital to its own security.”