Much is happening apart from the new “rule by law” announcements from the 4th Plenum – this heralds long term accountability by Chinese officials and Government bodies.
In Beijing , at the meeting of APEC – 21 Asia Pacific nations – President Xi and Prime Minister Abe met against the background of a four point agreement. President Xi also gave a very significant speech about the impact of the new Chinese economy on the outside world, and gave numbers of $1.25 trillion of outbound investment in the next 10 years , including $40 billion to develop the new silk roads.
The “new normal” he quotes on the Chinese economy explains the background of the 7-7.5pc annual growth we can expect for the years ahead.
Whilst APEC has been given less focus than ASEAN in recent years , it is clear there are now several global organisations and bilateral Free Trade Areas that all combine, for China , to create a new global trade and investment matrix, building towards a global trade and investment landscape.
With President Obama, due in Beijing imminently, the focus will switch to the relationship with the U.S.A. President Obama and Secretary of State Clinton have never enjoyed a totally positive relationship with China. President Obama comes to China with domestic policy making being pulled from him by a resurgent Republican Party. It is clear Israeli and Ukrainian leaders are anticipating this happening in the area of foreign policy, and perhaps hoping for a return to neo-con policies. The world will be impacted by the new USA foreign policy that is emerging, and will emerge.
President Xi and his polished team will be waiting for signals from the U.S.A. that they want to participate in the new opening up of China that President Xi is hinting at in the Xinhua report below.
The world has serious tensions in the Middle East, high risk tensions in Ukraine, and sensitivities in the South China Sea.
The world has EU-NAFTA Free Trade Area and TPPA initiatives deriving from the U.S.A. and major moves in BRICS, Central Asia, ASEAN, APEC and East Asia, which collectively herald a new global era of sustainable growth, but a new normal for US/China relations is a missing link so far.
Let us hope it emerges as the U.S.A. needs the China opportunities as a real base for reforming and modernising its economy and industry. This would lead to the complex matrix forming into a global successor to WTO, based upon the WTO.
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