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NEW KID ON THE BLOCK: CHINA DEALING CRUSHING BLOW TO US SUPREMACY IN ASIA
(c) REUTERS/ Takaki Yajima
BUSINESS
13:40 09.04.2015(updated 14:06 09.04.2015) Get short URL
Ekaterina Blinova
7500
China is determined to subvert American supremacy in Asia, said
Richard Javad Heydarian, adding that Beijing has brought numerous
regional and international players under its umbrella due to its
efficient economic charm offensive.
China has thrown down the gauntlet to the established Bretton Woods'
economic world order and American supremacy in Asia by launching new
ambitious infrastructure projects in the region and dislodging the US
from the South China Sea, noted Richard Javad Heydarian, an expert
in international affairs and policy advisor in the Philippine House
of Representatives.
"China's astute economic diplomacy--aimed at challenging the Bretton
Woods system (BWS) of global governance--and accelerated construction
activities in the South China Sea, an artery of global trade, are
chipping away at the very foundations of the decades-long US-led
order in Asia," Richard Javad Heydarian stressed.
The rapid development of the China-led Asian Infrastructure Investment
Bank (AIIB), the New Development Bank and the New Silk Road initiatives
has simultaneously marked the triumph of Beijing's soft power and
Washington's dreadful fiasco.
(c) AP PHOTO/ CHARLES DHARAPAK Et Tu, Brute? Israel Latest US Ally to
Join Chinese AIIB The expert elaborated, however, that "in fairness,"
Beijing's decision to challenge the established BWS was largely
caused by emerging powers' growing frustration over the lack of
much-anticipated reforms in the World Bank and the International
Monetary Fund (IMF), blocked up by the US Congress in 2010.
Citing the volatilities of currency markets, China invests its vast
financial reserves into Asian infrastructure projects. However,
the expert noted that some international observers are inclined
to consider particularly the AIIB a "Trojan horse for its broader
strategic interests in Asia."
China uses its financial resources to "purchase" the loyalty of its
Asian neighbors, Mr. Heydarian believes, citing prominent Chinese
scholar Yan Xuetong.
"The policy now is to allow these smaller [neighboring Asian] countries
to benefit economically from their relationships with China.
For China, we need good relationships more urgently than we need
economic development. We let them benefit economically, and in return
we get good political relationships," Xan Xuetong pointed out.
(c) AFP 2015/ TAKAKI YAJIMA Iran Joins China-Led Asian Infrastructure
Investment Bank While the US Asian allies, from the Philippines to
Vietnam to Japan, are watching China's steady expansion in the region,
it seems that the United States has nothing to bring to the table in
order to swing the balance in its favor.
The US' vain attempts to boycott the AIIB have ultimately failed
after the UK, Washington's closest (European) ally, announced it
would participate in the China-led initiative, paving the way for
other European and Asian partners of the US to join.
Washington has found itself in a rather embarrassing situation,
isolated and left by all. The situation prompted US Treasury Secretary
Jack Lew to state grudgingly that the United States "welcome[s]
China having a significant role in the global economic and financial
architecture."
Washington's strategic primacy in Asia is at stake - it is clear
that China is determined to change the established status quo in the
region and obliterate America's longstanding supremacy, the expert
underscored.
Read more:
http://sputniknews.com/business/20150409/1020658052.html#ixzz3WoGg4oVf
From: Baghdasarian
(c) REUTERS/ Takaki Yajima
BUSINESS
13:40 09.04.2015(updated 14:06 09.04.2015) Get short URL
Ekaterina Blinova
7500
China is determined to subvert American supremacy in Asia, said
Richard Javad Heydarian, adding that Beijing has brought numerous
regional and international players under its umbrella due to its
efficient economic charm offensive.
China has thrown down the gauntlet to the established Bretton Woods'
economic world order and American supremacy in Asia by launching new
ambitious infrastructure projects in the region and dislodging the US
from the South China Sea, noted Richard Javad Heydarian, an expert
in international affairs and policy advisor in the Philippine House
of Representatives.
"China's astute economic diplomacy--aimed at challenging the Bretton
Woods system (BWS) of global governance--and accelerated construction
activities in the South China Sea, an artery of global trade, are
chipping away at the very foundations of the decades-long US-led
order in Asia," Richard Javad Heydarian stressed.
The rapid development of the China-led Asian Infrastructure Investment
Bank (AIIB), the New Development Bank and the New Silk Road initiatives
has simultaneously marked the triumph of Beijing's soft power and
Washington's dreadful fiasco.
(c) AP PHOTO/ CHARLES DHARAPAK Et Tu, Brute? Israel Latest US Ally to
Join Chinese AIIB The expert elaborated, however, that "in fairness,"
Beijing's decision to challenge the established BWS was largely
caused by emerging powers' growing frustration over the lack of
much-anticipated reforms in the World Bank and the International
Monetary Fund (IMF), blocked up by the US Congress in 2010.
Citing the volatilities of currency markets, China invests its vast
financial reserves into Asian infrastructure projects. However,
the expert noted that some international observers are inclined
to consider particularly the AIIB a "Trojan horse for its broader
strategic interests in Asia."
China uses its financial resources to "purchase" the loyalty of its
Asian neighbors, Mr. Heydarian believes, citing prominent Chinese
scholar Yan Xuetong.
"The policy now is to allow these smaller [neighboring Asian] countries
to benefit economically from their relationships with China.
For China, we need good relationships more urgently than we need
economic development. We let them benefit economically, and in return
we get good political relationships," Xan Xuetong pointed out.
(c) AFP 2015/ TAKAKI YAJIMA Iran Joins China-Led Asian Infrastructure
Investment Bank While the US Asian allies, from the Philippines to
Vietnam to Japan, are watching China's steady expansion in the region,
it seems that the United States has nothing to bring to the table in
order to swing the balance in its favor.
The US' vain attempts to boycott the AIIB have ultimately failed
after the UK, Washington's closest (European) ally, announced it
would participate in the China-led initiative, paving the way for
other European and Asian partners of the US to join.
Washington has found itself in a rather embarrassing situation,
isolated and left by all. The situation prompted US Treasury Secretary
Jack Lew to state grudgingly that the United States "welcome[s]
China having a significant role in the global economic and financial
architecture."
Washington's strategic primacy in Asia is at stake - it is clear
that China is determined to change the established status quo in the
region and obliterate America's longstanding supremacy, the expert
underscored.
Read more:
http://sputniknews.com/business/20150409/1020658052.html#ixzz3WoGg4oVf
From: Baghdasarian