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The University of Chicago’s fourth annual US-China Forum brought together experts from the United States and China for a series of high-level discussions on issues of importance to both countries and, by extension, the world.
China’s global economic footprint is large and growing. Its economy – now the world’s second-largest – is shifting away from its former reliance on foreign capital, low-tech exports, and low-cost labor. As Chinese producers move up the value chain, Chinese companies, particularly the country’s state-owned enterprises, are looking abroad for new markets and new opportunities to invest. This transformation marks an era of opportunity and challenges not only for China, but also the rest of the world.
What implications could China’s growing economy and influence have on the international financial system and global economy? As Chinese authorities work to tighten financial conditions and rein in financial risks, how will trade tensions with the United States impact their bottom line? What opportunities do Southeast Asian markets offer China, especially as the United States retreats from multi-lateral trade pacts? How will the internationalization of China’s economy shape the nation’s domestic financial systems?
Finally, China has made public commitments that its Belt and Road Initiative (BRI) —a massive infrastructure plan encompassing up to 60 countries—will be defined by communal contributions and shared benefits among countries, but questions remain regarding its implementation and impact.