China has won the title of the “world’s builder” by applying its monetary resources via aid and investments and expertise to construct roads, railroads, dams, communications facilities, pipelines, ports, economic zones and more to projects abroad. America was once the world’s “connector.’ That is no more.
The fundamental guarantee of the freedom of navigation in the South China Sea is not the US or its military presence, but China, the coastal states, and regional countries’ commitment to peace, stability, prosperity, and development.
China has toughened its stance on Pyongyang’s nuclear program. I look to China for leadership in addressing the problem of potential nuclear proliferation. It can provide this first of all by getting North Korea to dismantle its nuclear weapons program.
In March 2016, the reform of social health insurance was underlined in China’s 13th Five-Year Plan. In particular, the financially sustainable management of social health insurance is one of the key issues to be addressed in the Chinese health care system.
From November 2015 to February 2016, China officially launched the long-expected military overhaul to move the PLA away from its Soviet-style command structures towards an American-style joint operation command of the army, navy, air force, etc.
According to the Pentagon, on May 17, 2016, two Chinese J-11 fighter jets intercepted a US Navy EP-3 intelligence, surveillance and reconnaissance plane on a “routine patrol” in “international air space” about 100 nautical miles south of China’s mainland coast and 50 nm east of Hainan.
Three years after it was launched, the curtain is coming down on the Philippines’ South China Sea arbitration case. Now is the time to take a step back from all the hustle and bustle to see through the past few years’ misrepresentations and distractions and get a clear understanding of the South China Sea issue.
The internationalization of the RMB requires a moderate international monetary environment as well as China’s policy effort. A monetary policy coordination could tone down monetary policies and exchange rate swings and would bring about a less volatile and more even international monetary environment.