TAILIEUCHUNG - China’s strategic adjustments: impact on the world, region and vietnam
China is now connected with Europe through an overland route as well as through the boosting of economic, trade and investment ties between Asia and Europe. Furthermore, while Europe has been concerned about China‟s unfair competition and the dependence on Chinese investment, ASEAN has increasingly deepened the mutual economic dependence between itself and Beijing. A negative out come of this is the rising economic dependence on China of quite a few ASEAN member states. including Vietnam. | China’s Strategic Adjustments: Impact on the World, Region and Vietnam Nguyen Quang Thuan1 1 Vietnam Academy of Social Sciences. Email: thuanq_2000@ Received: 10 August 2017. Accepted: 10 September 2017. Abstract: After the 18th Congress of the Chinese Communist Party, China adjusted its diplomatic strategy and transformed its pattern of economic development. This has had and will continue to have both a positive and a negative impact on the international financial institutions and the regional and global economy. The “One Belt, One Road” (OBOR) strategy, combined with the Asian Infrastructure Investment Bank (AIIB) and the internationalisation of the yuan, is the main focus, and exerts a strong impact on the existing international financial institutions as well as the economic relations between China and many other countries in the world. It has attracted many developed and developing countries to join the AIIB. It also has made many emerging economies become closely linked to China. Moreover, it contributes to the emergence of many “asymmetric” pairs of economic relations between China and its neighbours. China is now connected with Europe through an overland route as well as through the boosting of economic, trade and investment ties between Asia and Europe. Furthermore, while Europe has been concerned about China‟s unfair competition and the dependence on Chinese investment, ASEAN has increasingly deepened the mutual economic dependence between itself and Beijing. A negative out come of this is the rising economic dependence on China of quite a few ASEAN member states, including Vietnam2. Keywords: China, strategic adjustments, OBOR, AIIB, economic dependence, ASEAN, Vietnam. Subject classification: Politics 1. Introduction After nearly four decades of reform and opening up, China succeeded in becoming the world‟s second largest economy in 2010. With the achievements in socio-economic development gained from the reform process, the fifth .
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