Xi's Long Game (by Arthur Kroeber, Founding Partner, GaveKal Research) - Summit meetings of APEC, the Asia-Pacific economic cooperation talking shop, rarely...

Xi's Long Game (by Arthur Kroeber, Founding Partner, GaveKal Research) - Summit meetings of APEC, the Asia-Pacific economic cooperation talking shop, rarely produce much of interest beyond a funny group photo of 21 heads of state struggling to look comfortable in ersatz local dress of the host country. But last week's summit in Beijing, the companion state visit of President Obama, and the subsequent G-20 summit in Australia produced a surprisingly substantial feast of positive news. The deal flow was a testament to Xi Jinping's diplomacy. Xi looks well on his way to reshaping the Asian political-economy equation in China's favor. The announcements fell broadly into two baskets: one set that underscores China's desire to play a bigger, and essentially cooperative, role within existing global governance systems; and a second that makes clear China's intent to build a parallel set of multilateral institutions that it can dominate. (VIEW LINK)