Macro Panel: Changing World Order
The world is undergoing dramatic changes in economic balance. Over the last 5 years, China has overtaken the US to become the world’s largest economy (in PPP terms). China’s growing global influence in trade and technology, and transition from a global manufacturer to global innovator and entrepreneur, are being met with increasing international security concerns and geopolitical turmoil. China is seeking a new balance between its growing global role and national aspirations, at a time where liquidity is tightening, growth is slowing and technology is transforming the competitive landscape. How are the US and China responding to this changing world order? What are the challenges and longer term outlook?