“Substantial progress” – President Trump tweeted recently. Growing optimism for a China trade deal had helped fuel the current stock market rally BUT one of the most important questions of our time still needs to be answered: what does China’s rise mean for the future of Asia and of the world?
“China”, Napoleon once remarked, “is a sleeping lion. Let her sleep, for when she wakes she will shake the world.” In 2014, President Xi Jinping triumphantly declared that the lion had awoken. Under his leadership, China is pursuing a dream to restore its historical position as the dominant power in Asia.
From the Mekong River Basin to the Central Asian steppe, China is flexing its economic muscles for strategic ends. By setting up new regional financial institutions, Beijing is challenging the post-World War II order established under the watchful eye of Washington. And by funding and building roads, railways, ports and power lines – a New Silk Road across Eurasia and through the South China Sea and Indian Ocean – China aims to draw its neighbors ever tighter into its embrace.
But big dreams may also face big problems…
China’s Asian Dream: Empire Building along the New Silk Road
Combining a concise overview of the situation with on-the-ground reportage from a dozen countries, China’s Asian Dream offers a fresh perspective. Enjoy this very timely, lively, essential, superbly organised and very well written book of GaveKal’s Tom Miller.