China’s launch of a yuan-denominated oil futures exchange will provide it with the opportunity to create an Asian crude oil benchmark and give it more clout in crude pricing and for promoting the yuan as a truly global currency.
Doklam brought into perspective the fractured relationship between India and China on the global stage and increased fears of China’s growing unilateralism as it inexorably broadens its interests and sphere of influence, especially in South Asia.
For the Belt and Road Initiative (BRI) to succeed, China needs to engage in serious and sincere dialogue with BRI participants, ensure respect for territorial integrity and sovereignty, uphold the internationally accepted norms of transparency and observe principles of financial responsibility, among other key issues.
Xi envisions China as a key player in shaping the new global order with Chinese characteristics. His grand strategy is in consonance with the Chinese strategic culture of ‘thinking deep and far’
The inclusion of the Belt and Road Initiative in the Charter of the Communist Party of China indicates that it is not merely an economic policy but rather a ‘political project’.
Will the next meeting between PM Modi and President Xi at the Xiamen BRICS Summit lead to what Foreign Secretary Jaishankar has described as a new equilibrium?
It will take some time before the PLA can claim to be a modern military, at par with Western armies, capable of undertaking extended global missions. But the PLA is poised for a “Giant Leap”, and that is bound to dramatically change the ‘balance of power’ dynamics.
The vision document considers maritime security cooperation as a lynchpin in the MSR and attempts to redesign the existing maritime security architecture in the oceanic arena of MSR.
China may emerge as the sole leader of global climate negotiations by supporting the Green Climate Fund, which faces a budget crisis with the US exit. This will also provide an opportunity for China to reshape its current global image.
Xi Sets China on a New Long March
Xi rides the Dragon which is externally formidable but internally fragile. He is aware of the consequences of his policies going awry.