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The changing world order

Source : TRIVIUM Advisory

A key theme running through Xi’s speech in South Africa was change:

“We are witnessing major changes unfolding in our world, something unseen in a century.”One change that Xi highlighted was the gradual realignment of global power and influence:“Emerging markets and developing countries already contribute 80 percent of global economic growth.”“These countries account for nearly 40 percent of…global economic output.”“Growing at their current rates…their economic output [will] approach half of the global total in a decade.”Get smart: Xi is redirecting diplomatic resources to focus on developing countries in order to make sure that China is positioned to best take advantage of this shift.

How Xi wants to see the world change:“When new rules are made on such issues as innovation, trade and investment and intellectual property protection or on new frontiers including cyberspace, outer space or the polar regions, we should make sure that the views of emerging markets and developing countries are heeded.”

Get smarter: China’s views on many issues – particularly trade, investment, cyberspace governance, and human rights – differ significantly from prevailing global norms.

As global power shifts away from the West, Chinese norms in these areas will become more prominent.

 

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