4 Dec 2015
What China's New Economic Diplomacy Means for Business
By the Economist Intelligence Unit
China has grown to be a significant force in global trade over its 36 years of reform, but for most of that time it has not assumed a strong leadership role in trade governance, opting instead to integrate into existing systems. With the launch of the One Belt, One Road (OBOR) initiative in 2013, and the creation of new multilateral financial institutions led and largely capitalised by China, the country may have turned a corner in its international economic policy.
Does this mark the beginning of the end of China’s engagement with the existing institutions of trade and investment governance? If China is pursuing a new paradigm of international trade liberalisation, what does that entail? This report looks at what China’s new economic diplomacy means for regional and global trade liberalisation, and for business.
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