Global governance

With the announcement of the India-Middle East-Europe Economic Corridor at the recent G20 summit, it could be easy to assume that India has made its strategic decision to join the US-led West to counter China, or that the IMEC is a natural rival to China’s Belt and Road Initiative. But complementary multilateral structures may not be a thing of the past.

China and India have surprisingly cooperated in facing a polarised geopolitical ambience during the G20 summit in Delhi on 9-10 September 2023, says Indian academic P. S. Suryanarayana. China supported India’s leadership in reaching a G20 consensus on the Ukraine crisis and the development priorities of the global south. The nuances of acquiescence by the US-led West may be key to the future of world affairs, because the G20 reflects today’s realities.

Young Chinese Wang Hao shares his personal experience of working in Africa's Kenya. He says a growing number of young Chinese are venturing into Africa for exchanges, internships and full-time work. In this era of globalisation, it is important that young Chinese communicate with the outside world to develop a broader worldview and seek opportunities for growth.

In his keynote address at the Caixin Asia New Vision Forum, Singapore's Deputy Prime Minister Heng Swee Keat said that the US and China can still step away from confrontation and conflict, and both sides must do so by building strategic trust. Meanwhile, Asia and the rest of the world must also take active steps to bring about greater collaboration. Together, countries can work to bring about a new global architecture that promotes inclusive and sustainable development. This is an edited version of his speech.

With an increasing number of countries and groupings being open to making trade settlements in currencies other than the US dollar, de-dollarisation has gained some momentum and this may also aid China’s efforts for RMB internationalisation. But China may have no intention of letting the RMB replace the US dollar. In that context, would a new “BRICS currency” be better fit for purpose?

At the G7 summit in Hiroshima from 19-21 May, the topics in focus are set to be China's impact on the world, as well as the Russia-Ukraine war. It is clear that every nation is trying to maximise its interest and chance for influence and survival in a state of global flux. Lianhe Zaobao associate editor Han Yong Hong looks at the anticipated discussions of the G7 meeting.

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.

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.

While new Chinese Foreign Minister Qin Gang seems to be adopting continuity in Chinese foreign policy, there are subtle nuances that may augur well for China’s diplomacy. As for managing China’s relations with the US, courting US allies would be a good way forward, if China can resist responding with off-putting knee-jerk reactions.