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As China prepares for its leadership transition later this year, Beijing has faced an unusual number of high-profile political incidents which has the potential to help shift the balance of power within China’s leadership to give a larger voice to proponents of reform.
Myanmar’s political and economic reforms under President Thein Sein have raised hopes and expectations at home and abroad. But Myanmar’s challenges remain formidable.
Although recent comment by China’s premier Wen Jiabao were taken by many as a signal that financial reform is finally on the agenda, this interpretation is mistaken.
Since opening up to the world in 1979, China’s economy has grown by an astonishing 10 percent, on average, in real terms every year. But many observers have pointed out that China’s recent “rise” is more aptly deemed a “return” to the preeminence it enjoyed before the eighteenth century.
The Philippine economy has grown by about 5 percent a year on average over the last ten years, significantly higher than in the previous two decades. Yet the number of people living below the poverty line has actually increased.
Chinese National Oil Companies, while owned by the government, increasingly base investment decisions on market signals rather than state orders. Their efforts to access oil and gas resources are helping to meet the challenge of high petroleum consumption levels.
Myanmar faces a number of daunting reform challenges, but it also has a unique opportunity to use its natural advantages to build strong foundations for sustainable and inclusive growth.
China's trade surplus has less to do with the value of its currency than it does with rapid urbanization and the rise of production networks across East Asia.
The recent slowdown in the Indian economy and stalled reform initiatives have raised concerns about India's economic prospects.
China's rise has had very different consequences for its North Asian and Southeast Asian neighbors, in particular, making it difficult for Southeast Asia to break out of the middle income trap.