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Tsinghua University China and the World Economy Forum
Date:2012-04-11       From:Tsinghua University Center for China in the World Economy (CCWE)

problems rooted in Europe. However, the market hasn’t picked up its confidence. Keith Richburg, editor in chief of the Chinese Office of Washington Post, analyzed this year’s election situation in USA from the viewpoint of US media. He argued that this year’s Presidential election was the most important one for USA, and it was the first time that such a huge ideological divergence emerged between the Republic and Democratic when it came to choose the president candidate. Then Mr. Richburg discussed the possible outcomes and its potential international impact. Andrew Polk, economist at the World Large Enterprises Association, gave his own judgment about whether the world economy would once again sink to the bottom. In his opinion, the world economy would not decline this year. In 2012, what EU needed is to solve the long-term problems rather than those temporary issues. The US gross value of industrial output was growing now, so was the confidence of American consumers’. The economic growth of the emerging market would slow down due to the austerity policy.

Speaking of the Sino-US relation, Jin Canrong, associate dean of the School of International Studies at Renmin University of China, shared his understanding based on his research in the past decades. Chinese GDP reached 7,000 billion US dollars, and that for US was 15,000 billion. We have some advantages than US in the manufacturing industry, and our total trade volume may have exceeded that of USA. He felt that during the past years there appeared a new phenomenon between China and USA, i.e. loss of confidence of America. The way of thinking of US was in constant changing, so what we faced with was a new United States of America. He suggested to establish a functional partnership between US and China. Yan Xuetong, director of the Institute of International Relations at Tsinghua University, suggested that China actively secure the dominating position when dealing with international affairs. American capability to lead and manage the international affairs was not as strong as before. They were calling for group leadership, but then another problem arose from the so-called group leadership, that is, who had the right to participate in this leaders club. The solution was probably to share the rights according to the responsibilities. Zhu Feng, professor at the Department of International Studies, believed that the post-USA period had not come yet. If China wanted to become a powerful country with enormous wealth and reasonable social structure, a country that was powerful enough to become the world leader, then we must gain respect from other nations first. Tremendous changes have taken place in China in the last 30 years, but it all happened too fast. So the question was, whether we were truly prepared,

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