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With a major new trade deal, favorable demographics and relative success managing the pandemic, Asia is fast assuming global leadership. Has the “Asian Century” just begun?
March 05, 2021
The moment when global leadership passes from one place to another often becomes clear only in hindsight. Did the US become preeminent in 1917 when it entered World War I? Or during the roaring 1920s, when its exports (including Hollywood’s) led the world and one in five Americans became rich enough to buy a car? In reality, the transition of economic, political and cultural power is incremental.
Pinpointing the shift in power from the US to Asia is no easier. Some claim it has already happened, highlighting the great financial crisis that left Asia relatively unscathed and positioned China as the savior of the global economy, boosting its prosperity and standing. Others point to former US President Donald Trump’s abandonment of the post-World War II rules-based order or hi
Under Biden, the Fundamentals of Sino-US Relations Will Remain the Same
While Donald Trump advocated the âAmerica Firstâ position, his successor speaks of âextreme competitionâ with China to continue to address US concerns with Chinaâs trade practices.
Joe Biden and Xi Jinping. Photo: Reuters
World22/Feb/2021
Over the past four years, Sino-US relations reached a post-Mao era low point. For now, with the newly-minted US administration, the biggest question facing the two countries is: to what extent will President Joe Bidenâs China strategy differ from or resemble that of his transactional and aggressive predecessor?
It was three weeks after his inauguration that Biden held the first telephone call with Chinese President Xi Jinping. During the call, Biden stressed that China should expect âextreme competitionâ from the US but, significantly, that this did not mean inevitable Sino-US conflict. He raised concerns over Chinaâs âcoerc
Beijing
China has overtaken the US as the world’s top destination for new foreign direct investment, according to UN figures released on Sunday.
New investments into America from overseas companies fell by almost half last year, leading to the loss of its number one status.
In contrast, UN figures show direct investment into Chinese firms climbed 4%, putting it number one globally.
The top ranking shows China’s growing influence on the world economic stage.
China had $163bn (£119bn) in inflows last year, compared to $134bn attracted by the US, the United Nations Conference on Trade and Development (UNCTAD) said in its report
| UPDATED: 19:13, Thu, Jan 28, 2021
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China’s economy reportedly grew 6.5 percent in the final quarter of 2020, indicating a strong recovery from the coronavirus pandemic. The figures, released by China’s National Bureau of Statistics, were slightly higher than those predicted and continued growth from the 4.9 percent increase recorded in the third quarter. The fourth quarter figures mean that overall, in 2020, China’s GDP grew 2.3 percent over the course of the year – making it the only major global econom