At a more structural level are three recent developments whose potential importance is currently difficult to assess: the setting up of the Asian Infrastructure Investment Bank; the likely inclusion of the Chinese yuan in the Special Drawing Rights basket; and the possible establishment of the TPP, a partnership in which China is not expected to be a founding member.
7 These are interesting and potentially important developments. Underlying the answer to the questions of what they portend, is the answer to the basic question of whether the economic center of gravity of the world will continue its shift of recent decades toward Asia – in particular, to China or, perhaps, to China and India.