Economic recovery

People gather to celebrate the arrival of the New Year near the Bund in Shanghai, China, 31 December 2020. (Aly Song/Reuters)

China expected to continue stellar economic performance in 2021

Despite the challenges of Covid-19, China registered 2.3% growth in 2020, the only major economy to do so. A combination of able pandemic containment efforts, expansion in industrial production and fixed asset investment, as well as prompt measures to help micro, small and medium enterprises brought them to this point. If this positive trajectory continues, China looks set to continue its remarkable rebound in 2021.
People wearing face masks attend a New Year's countdown in Wuhan, Hubei province, China, on 31 December 2020. (Noel Celis/AFP)

Shaping rules of the future: The goal for China's third opening up

Even if it might be a unilateral move, China should embark on its third phase of opening up, says Zheng Yongnian. The first phase of China’s opening up took place after the Opium War while the second was led by Deng Xiaoping’s reforms. Now, in the face of unprecedented challenges of the new century, China must undertake a higher-order opening up, and work towards setting global standards and formulating rules at the international level. These endeavours begin at home, with the domestic standardisation of rules in different regions and localities.
Paramilitary police stand guard as people gather to celebrate the arrival of the New Year near the Bund in Shanghai, China, 31 December 2020. (Aly Song/Reuters)

Covid-19 will be overcome, but can China and the US avoid the risk of war and conflict?

US-based researcher Wei Da feels that both China and the US need to make significant adjustments in their relations with each other, or else the scenario of a new Cold War and a real threat of hot war will not be far off. Who needs to understand that the world is different now, and adjustments have to be made? And who is the more backward party that has to adjust more?
A pedestrian wearing a face mask walks near an overpass with an electronic board showing stock information, at Lujiazui financial district in Shanghai, China, 17 March 2020. (Aly Song/File Photo/Reuters)

China-EU investment deal can bolster the world’s post-pandemic recovery

Cai Daolu of the NUS Business School says that the Comprehensive Agreement on Investment (CAI) between China and the EU can help to reduce uncertainty and facilitate the flow of investment, technology and know-how across borders. In fluid times, good old-fashioned economic integration and openness to foreign direct investment are just the booster shot that the world economy needs.
US President-elect Joe Biden gestures as he speaks during a campaign rally to support Democratic Senate candidates in Atlanta, Georgia on 15 December 2020. (Jim Watson/AFP)

Chinese academic: The US should set out to change itself, not China

Zhou Wenxing observes that the Biden administration needs to turn a new page on US-China relations. One way to do this would be to go with a derivative of the US’s engagement policy of the past. Only this time, it should not seek to change China, but change its own view of how cooperation and peaceful coexistence with China can be achieved in the next decade and beyond.
A woman wearing a face mask takes a picture of a display at a Christmas market in a shopping mall following an outbreak of the coronavirus disease (COVID-19) in Beijing, 16 December 2020. (Thomas Peter/Reuters)

China set to overtake US economy sooner than expected, but it is worried

China has received favourable assessments from several quarters recently, from its handling of the pandemic to the way its economy is set to surpass the US’s earlier than planned. However, instead of revelling in such praise, China is keeping a relatively low profile. Zaobao correspondent Yang Danxu looks at why China is playing it cautious.
Ethnic Yi women walk past an installation featuring a logo of the Communist Party of China and numerous slogans at the Chengbei Gan’en Community, a residential complex built for a relocation programme as part of China's poverty alleviation effort, in Yuexi county, Liangshan Yi Autonomous Prefecture, Sichuan province, China, 11 September 2020. (Tingshu Wang/Reuters)

Why East Asia has performed well in containing Covid-19

The liberalist discursive system leaves little room for one to contemplate the possibility that a strong government can also be a good government, much less the positives of the East Asian developmental state or Asian values. In fact, under the East Asian social contract, people are willing to empower the government for greater outcomes for all, and the government works to win the approval of the people as a means to preserve their legitimacy. Now, when the flaws of liberalism are laid bare by Covid-19 and other crises, it may be worth taking a closer look at the merits of the East Asian social contract. 
A paramilitary police officer stands guard during a flag-raising ceremony at Tiananmen Square on National Day to mark the 71st anniversary of the founding of People's Republic of China, in Beijing, China, 1 October 2020. (Carlos Garcia Rawlins/Reuters)

Exemplary punishment: How China's using wolf-warrior tactics on Australia to warn the rest

Chinese foreign ministry spokesperson Zhao Lijian's recent tweet of an image depicting an Australian soldier holding a knife to a child’s throat has brought China-Australia relations to a new low. While the Australian prime minister has softened his stance and even made goodwill gestures to China, these were rejected by Chinese officials and its people. Edwin Ong traces the deterioration of China-Australia relations and notes that China may not rein in its abrasive wolf-warrior tactics anytime soon. However, he says such tactics may not benefit China in the end.
Cambodia's Prime Minister Hun Sen speaks during a ground breaking ceremony for the construction of a bridge across the Bassac river in Phnom Penh on 26 October 2020. (Tang Chhin Sothy/AFP)

Cambodia needs to avoid putting all its eggs in the Chinese basket

Cambodia’s post-pandemic foreign policy is constrained by the need to sustain its economic growth while maintaining independence and sovereignty, amid the challenge and uncertainty caused by the growing strategic competition between China and the US. Academic Kimkong Heng says Cambodia needs to refrain from actions that appear to serve China’s core strategic interests, proactively engage all strategic partners, and walk a diplomatic tightrope between China and the US.