China-US Summit and ASEAN Economic Shifts
US President Donald Trump, Jr. begins a two-day visit to China for summits with President Xi Jinping, focusing on trade, investment, energy, and regional security issues including the Iran war and Taiwan. The article contrasts economic metrics, arguing that China has already surpassed the US in GDP (PPP), merchandise exports, and energy supply, challenging the narrative of US economic dominance. It highlights the rapid industrial growth of Asian economies, noting that Asia, led by China, India, and ASEAN members, is now the primary driver of the global economy. Meanwhile, the recent ASEAN summit in Cebu emphasized peace, maritime cooperation, and legal dispute resolution. The author suggests that while countries like the Philippines face industrialization challenges, they should focus on internal governance and minimizing non-tariff barriers. The piece underscores the shifting geopolitical and economic landscape, where Asian markets and manufacturing capabilities are expanding significantly compared to North America and Europe.
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