In order to enhance global trade and value creation, reducing trade friction-induced costs should be a top priority, which will contribute to elevating GVC cooperation in Asia and at large. Measures should be taken to lower the average tariff level by paring peak tariff, and encourage further trade liberalization.

Without Chinese help, sub-Saharan Africa’s power drought, its daily blackouts, and its ability to attract foreign investment would suffer. Fortunately, China is providing an essential part of the answer in terms of actual construction of new facilities and the finance that will present Africa new supplies to power and upgrade infrastructure.

The US wants China to deepen its market-oriented reform and maintain social stability, and on the other, it demands that China reduce its excess capacity immediately. These two tasks are obviously contradictory, and now that China has become the largest trading partner of the US, a cooperative approach by both sides is both logical and necessary.

In the run-up to Rio, the next three Olympic hosts, all Asian nations, must understand the broader implications and global expectations that come with hosting this event. The Olympics may have grown too weighed down by excessive external baggage to be sustainable in their current form, something that will have to be taken into account moving forward.

We often hear that China “manipulates its currency” and harms the U.S. economy. Some say if we punish China as a manipulator or slap tariffs on Chinese goods it would reduce our trade deficit. But what does currency manipulation mean? More importantly, would tariffs on Chinese goods help our economy?

After the tribunal’s categorical ruling on the South China Sea, China’s new strategy could be to lower the temperature by reframing the issue away from rocks, sand and physical territory. It could then seek to reframe the issue around the potential multilateral benefits of China’s Maritime Silk Road concept.

Using his recent election win to focus on restoring Japan’s military would be abusing the mandate sanctioned through the democratic process. The election was won on economic issues and fears, and that should be the prime minister’s top priority.

Hosting the G20 Hangzhou summit will boost China’s reform and will be a new starting point for China’s growth and development. The Hangzhou summit will also set a new vision for the G20 and shape a new pattern for global economic growth, thus benefiting the entire international society.

“Dollar liquidity shortage” is inevitable in the future, and improving liquidity management including cross-border capital flow and monetary reserves is the key to systematic risk control and crisis management. A global macro-prudential supervision frame should be established to supervise the cross-border capital liquidity as the core target and measure for capital management.

An outflow of capital from China, and the trade deficit it has created for rich countries and especially the United States, has led to an enormous gap in demand. The key route to reducing the trade deficit is a lower value of the dollar, which would require China to decrease its foreign reserves. As negotiations work, this would mean the United States would have to make concessions in other areas of the bilateral relationship.