While US postwar policies in Asia are shifting, a new Sino-US historical opportunity has emerged. US and Chinese visions of globalisation could still prove complementary.
President Trump’s gruelling 12-day Asia tour took place amid a worrisome historical moment. Since the mid-2010s, global economic integration – as measured by trade, investment and migration – has come to a standstill. Trade has been falling. Investment continues to stagnate. And slower migration has given rise to elevated global displacement and refugee crises – the worst since 1945.
After Japan, South Korea, China and Vietnam, Trump attended the Asia Pacific Economic Cooperation (APEC) Summit in Da Nang, Vietnam, followed by the 50th Anniversary of ASEAN in Manila.
It was the two leaders’ speeches in the Vietnam that seemed to leave room for an emerging opportunity – a new kind of globalisation.
About the Author
Dr. Dan Steinbock is Guest Fellow of Shanghai Institutes for International Studies (SIIS), see http://en.siis.org.cn/. The commentary is part of his SIIS project “China in the Era of Economic Uncertainty and Geopolitical Risk”. For his global advisory activities and other affiliations in the US and Europe, see http://www.differencegroup.net/