The partnership is fast developing multiple Eurasian ties -- as the New Silk Roads, a.k.a. Belt and Road Initiative (BRI) intersect with the Eurasia Economic Union (EAEU) and an expanded Shanghai Cooperation Organization (SCO) progressively develops economic mechanisms.
After President Xi Jinping's performance last year, when he all but launched globalization 2.0, China once again will get top billing at major behind closed doors meetings at Davos. It's easy to forget that 2018 marks only the 40th anniversary of the start of Deng Xiaoping's economic reforms. Global elites still count on China to "save" Western capitalism.
Predictable Cassandras got it wrong; the Chinese machine isn't about to stutter. Debt is mostly internal and in yuan. Credit is increasingly efficient. The economy is fast becoming more productive thanks to artificial intelligence. The transition -- still in effect -- has been hyper-fast and extremely successful, from dependence on exports to a knowledge/innovation economy.
No wonder global financial markets treat China as a developed nation. And BRI, as it advances, will be a win-win -- turbo-charging Eurasia (and world) trade to and from China.
Meanwhile, at the Magic Mountain, nobody should expect so-called elites finally managing to elicit a sound balance between the requirements of the fragmenting nation-state and an open, global economy. For mere mortals, there's not much left, apart from being on guard trudging along so many geoeconomic, geopolitical and environmental pitfalls. And buying gold.
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