China flag sky jonathan leveneur/Flickr

China’s International Growth Agenda

For most of the past 35 years, China’s policymakers had no strategy to ensure that others – especially the neighbors – gained from the country’s economic transformation. But now China does have such a strategy, or at least is rapidly developing one, and it extends well beyond Asia, to Eastern Europe and the east coast of Africa.

MILAN – For most of the past 35 years, China’s policymakers have set their focus on the domestic economy, with reforms designed to allow the market to provide efficiency and accurate price signals. Though they had to be increasingly aware of their country’s growing impact on the global economy, they had no strategy to ensure that China’s neighbors gained from its economic transformation.

But now China does have such a strategy, or at least is rapidly developing one. Moreover, it extends well beyond Asia, embracing Eastern Europe and the east coast of Africa.

A key element of China’s strategy is the recently established Asian Infrastructure Investment Bank (AIIB), and to some extent the BRICS’ New Development Bank, established last year by Brazil, Russia, India, China, and South Africa. Both banks are obvious alternatives – and so rivals – to the Western-dominated World Bank and International Monetary Fund.

To continue reading, please log in or enter your email address.

To access our archive, please log in or register now and read two articles from our archive every month for free. For unlimited access to our archive, as well as to the unrivaled analysis of PS On Point, subscribe now.

required

By proceeding, you agree to our Terms of Service and Privacy Policy, which describes the personal data we collect and how we use it.

Log in

http://prosyn.org/pJzuRoz;

Cookies and Privacy

We use cookies to improve your experience on our website. To find out more, read our updated cookie policy and privacy policy.