The common market concept underscored the inward-looking integration approach at both the national and regional level. Essentially, CARICOM sought, at a minimum, to promote at the regional level the import-substitution strategy of development being pursued at the national level. This type of regionalism was originally intended to be a defense against growing multilateralism, and stood somewhat in opposition to it.
It was made clear at the 3rd Plenary Session of the 16th National Congress of the Chinese Communist Party in October 2003 that efforts should be made to “improve the RMB exchange rate regime and keep the RMB exchange rate basically sable at an adaptive and equilibrium level.