Experts at a Credit Suisse conference said countries should welcome China's rise as an opportunity to recommit to and reestablish global rules.
The international community needs to reestablish a world order based on rules as the rise of China coincides with the decline in European and American power, according to business and politics experts.
"I think that we need rules more than ever before," said Anthony Gardner, former U.S. ambassador to the European Union."We should be able to manage our differences properly. We need rules, not military power, to help manage the rise of China, and to manage the inevitable decline of the United States."
Still, the hotelier cautioned that it would be"dangerous" for China to be the rule maker, suggesting that it has to"help" set some of the new rules. "We should be working with the EU together more than we have even in the past in bringing more cases to the ... which clearly has problems in dealing with China. Instead we are fighting with the EU," he said, referring to U.S. President Donald Trump's ongoing trade complaints about the bloc.
Credit Suisse said in a report issued at its Singapore conference, that the rise of global trade disputes is"one of the most obvious results from the increase of populist governments." Meanwhile, the U.S. and China are set to meet again for another round of trade talks in Beijing on April 30."How do we avoid choosing sides? ... How do we avoid becoming a pseudo colony of China?" he said at the conference."The responsibilities for those of us in Asia are particularly great.
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