If a report in the Washington Post is true, the United States is playing politics by blocking John Lee Ka-chiu’s attendance at an upcoming APEC meeting in San Francisco. This must not be allowed to become a spark that starts another prairie fire in China-U.S. relations.

At the end of World War II, the United States accounted for more than half the world’s economic output and gold reserves. The United Kingdom was effectively bankrupt, with the remnants of the sterling area bound together by capital and trade controls. Once the British pound became convertible in July 1947, owing to US insistence, it succumbed to overwhelming selling pressure. The dollar, which was pegged to gold at $35 an ounce, was buoyed by America’s privileged position within the newly formed International Monetary Fund and quickly established itself as the bedrock of global trade and finance.

New investment restrictions from the Biden administration will serve to stimulate China’s research and development efforts. In the long run, the measures could also weaken the United States’ dominant position in the global high-tech industry by stimulating substitution in the industrial chain.

GDP in the first half of 2023 increased 5.5 percent year-on-year as the country steadily left the COVID crisis behind. But the goal is not just short-term GDP improvement. If China sticks to its people-centered approach, it will create an ongoing pattern of high-quality development.

An executive order issued recently by U.S. President Joe Biden to restrict outbound investment will have many unintended negative consequences. Other countries will need a healthy dose of vigilance regarding America’s duality and changeability, as the U.S. moral position is undermined.

Philippines’ President Ferdinand Marcos Jr. gave his second State of the Nation Address last month, where he briefly mentioned the country’s complex relationship with China. As elsewhere, China presents challenges and opportunities for the Philippines, and this should continue to inform Marcos’ evolving foreign policy.

China's economy is at a crossroads. As its old model of development faces challenges, it will require a shift to consumption-driven growth despite challenges in the private sector.

Hong Kong has the opportunity to play a unique role in the Sino-American relationship, which would also help it maintain relevance on the world stage. Additionally, the SAR must diversify beyond the Sino-U.S. relationship.

China has boasted the world’s largest population for hundreds of years, but with challenges brought about by mandatory birth limits and rapid economic growth, China is now faced with a population decline that likely will endanger Xi Jinping’s goal of moving China into the ranks of rich countries.

The pressure toward diversifying world currency reserves has been building for a long time. It intensified after the 2008 financial crisis but has escalated even more since 2022. Diversification of currency reserves is expected to be a major topic at the upcoming BRICS Summit, which will likely further intensify this trend.