An edited version of a dinner speech at the Biennial Dinner of the Royal Society for Asian Affairs in May, 2015 by Lord Stephen Green, ex-Chairman of HSBC and an ordained Church of England priest, as appeared on the RSAA weblog on 11 November, 2015.
I agree with Lord Green's observations, notwithstanding China's perceived warts and all one is constantly reminded of.
The Middle Kingdom seems to be reviving her ancient name as China now sits at the centre of the global supply and value chains. Look at any widget and you will fine China embedded somewhere. This economic centrality is unlikely to change very much regardless of the concluded Trans-Pacific Partnership (TPP) or the proposed Trans-Atlantic Trade and Investment Partnership excluding China, or for that matter, by any display of military dominance. In any case, there is already an alphabet-soup of regional and bilateral free-trade agreements where China is playing a pivotal role. Click here
I might add that China's growing clout is exemplified by recent "Owned by China" phenomenon on both sides of the pond.