China’s State Council issued a guideline for urban development on February 21. It states that “in principle, no more enclosed residential compounds will be built. And existing residential compounds will gradually have their interior streets integrated into the public road network.”
The Beijing Consensus is simply three theorems about how to organize the place of a developing country in the world. Just like the Washington Consensus, it contains many ideas that are not all about economics, but also about politics and the global balance of power.
Taiwan’s newly elected president Tsai Ing-Wen plans to set up a quasi-sovereign wealth fund to kick-start innovation-driven industrial development. She wishes to bring Taiwan into the US-led Trans-Pacific Partnership and enhance economic cooperation with several countries beyond China.
Regional transportation networks constructed by China will contribute significantly to its leadership in Asia. Transportation networks will provide China with new and diversified supply lines and consumer markets, helping it to spread its regional economic influence.
Although economic deceleration is expected and is not necessarily a terrible outcome for China, concerns over the transition are warranted. Indeed, the economy is facing numerous constraints, domestically and externally.