As the world continues to experience the fallout from the 2008 financial crisis, it is increasingly turning towards China. The outsourced ‘workshop of the world’ has become the world’s great hope for growth, and the source of the capital the West’s indebted economies so desperately need. Simultaneously, and in the United States in particular, commentators and policymakers have increasingly voiced concerns that the economic clout of a communist superpower might pose a threat to the liberal world order. These contradictory impulses – China as opportunity and China as threat – demonstrate one clear truth, exhibited in the Obama administration’s much-trailed ‘Asian pivot’: that China is important.
Via James S Bown