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Significance
London's actions drew a harsh, if unofficial, reaction from the White House. It underscores the growing rivalry between the United States and China over the changing architecture of global and regional institutions.
Impacts
Institutional competition will not spill over much into the security field, where China's neighbours seek to balance it.
Increased European involvement in South-east Asia will accelerate movement towards an EU-ASEAN free trade agreement.
Increased international prestige could help Chinese President Xi Jinping's domestic clout.
Keywords:
China,
United States,
AP,
NA,
ASEAN,
Australia,
EU,
France,
Germany,
Italy,
Japan,
Russia,
South Korea,
Syria,
United Kingdom,
Vietnam,
US/CHINA,
international relations,
foreign investment,
foreign policy,
foreign trade,
integration,
international law,
regulation,
security,
treaty,
capital flows,
deregulation,
infrastructure,
transport
© Oxford Analytica 2020. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2015
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