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. Although China is not yet the most open, it has made 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-quality Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA) – an important message for higher-level opening .
In stark contrast to the US, China is looking ahead with an eye for win-win cooperation to create opportunities and growth with increased trade and investment, while the US is building new security alliances. In other words, China is moving forward with vision, while the US is moving back into the ‘Cold War’. If the US created a new “Cold War” or divided the world into rigid blocs, every country would be a loser.