Analyst: China moves ahead with vision, U.S. goes back to Cold War?
An interesting report has been released along with the opening of the fourth China International Import Expo: World Openness Index, in which China has become the 40th open economy. Though not yet the most open, China has achieved solid progress in expanding the areas for foreign investment.
In addition to the Regional Comprehensive Economic Partnership (RCEP), China has applied to join the high-standard Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Digital Economy Partnership Agreement (DEPA) – a key message for higher-level opening-up.
In stark contrast with the U.S., China is forward looking with an eye for win-win cooperation to create opportunities and growth with more trade and investment, while the U.S. is busy with building new security alliances. In other words, China is moving ahead with vision, while the U.S. is going back to the "Cold War." If the U.S. created a new "Cold War" or divided the world into rigid blocks, every country would be a loser.