A natural corollary of the expansion of China’s economy and its massive financial reform would be the internationalization of the RMB. As an international payments currency, the RMB has leapfrogged from 20th position in 2012 to 5th in 2015.
Economic policies beg for a major update from the implementation of the Doi Moi reforms in 1986. To ensure full integration into the global economy, including fulfilling expectations of the TPP, Vietnam need to do some serious adjustments.
Japan’s forward bend towards China’s BRI will provide an impetus to Asia’s much needed infrastructure build-up. Asia has a large infrastructure need which is essential for the economic growth of Asian countries and which is significant for their global competitiveness.
China has become a major source for tourists for all Southeast Asian states. Laos is no exception in trying to attract this revenue earner. Improved connectivity through high-speed rail is one way to harness this potential and ensure Laos stays competitive in this market.
In the two years since Chinese President Xi Jinping’s official announcement of the China-Pakistan Economic Corridor during his state visit to Pakistan on April 20, 2015, the first slate of “early harvest” CPEC projects are poised to be completed.