Globalisation

Commentator Jin Jian Guo assesses that the global trade situation has undergone structural changes, in terms of China gradually losing its status as the world’s factory, amid competition from India and other countries in Southeast Asia. One major reason is the US’s actions in pursuing regional and bilateral free trade agreements that excludes China and have limited China’s trade scope.

Southeast Asian countries appear to have unanimously supported China’s Global Development Initiative in the hope that it will contribute towards addressing their development deficits and that China will up its economic game more broadly in the region. But a closer examination shows that other considerations continue to worry them.

Caixin sat down for an exclusive interview with Malaysia’s new Minister of International Trade and Industry Tengku Zafrul Aziz on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, in January. He spoke about Malaysia's and ASEAN's relations with China, and his thoughts on regional and global trade.

At this year’s Davos forum, Chinese Vice-Premier Liu He laid out five points that have led to China’s success so far. However, his session did not see a packed crowd, while China’s claims of sticking to reform and opening up seem less than convincing when taken against its actions. Commentator Jin Jian Guo delves into the importance of staying the course.

According to a development plan for China’s software and information technology (IT) service industry from 2021 to 2025, China is expected to significantly expand its capacity for developing key software and build two to three open-source communities with international influence by 2025. Meanwhile, China’s giant state-owned enterprises are also rushing to crank up domestic purchases of innovative IT applications under government pressure.

Taking an overview of global megatrends, including rising inflation, changes to business valuation and the race for technological supremacy, Indonesian business magnate Ang Tjoen Ming (Tahir) sieves out opportunities for Indonesia, and ways forward that could see it becoming one of the world’s seven largest economies in the next ten years.

George Yeo, Singapore’s former foreign minister, delivered the Goh Keng Swee Lecture on Modern China to commemorate the 25th anniversary of the National University of Singapore's East Asian Institute on 15 December. In covering issues of the day such as China-US rivalry, the Russia-Ukraine war, and the South China Sea, he concludes that a multipolar world is good for both China and the US. This is the full transcript of his speech.

As the world rapidly shifts from an economic one to a highly political one, competition will no longer be about who wins more but about who loses less. In the shift from a win-win to a zero-sum game, China is torn as it strives to get closer to the developed world yet seeks to maintain a distance from the third world and Russia. In navigating these troubled waters, three critical developments — relations with Russia, Taiwan, and decoupling from the West — may alter the fate of China. This is the last in a series of four articles contemplating a changing world order.

In a changed world post-pandemic and against the backdrop of the war in Ukraine, Asia will face pressure from competing minilateral coalitions amid the breakdown of multilateralism and the weakening global and regional institutions. This time, it may not be so easy not to take sides, says Professor C. Raja Mohan. This is the second in a series of four articles contemplating a changing world order.