With China’s economy slowing rapidly, many analysts around the world worry that a continued contraction in Chinese growth could potentially have an adverse global impact. Without China acting as the global engine of growth, they say, growth around the world could stall. But the story is more complicated than that.
Even as regular climate diplomacy has resumed between the U.S. and China, officials and observers of both countries have become markedly more pessimistic about the feasibility of carving out a separate lane for climate progress amid rising tensions. That may imperil our chances of a timely energy transition.
Last week’s ASEAN Summit comes at a time of rising geopolitical tensions in the region, including between member states and China. Nevertheless, paralyzed by its commitment to unanimity-based decision-making, ASEAN is either unwilling or unable to check Beijing’s worst instincts. The result is a deepening fragmentation within the bloc.
