China taking direct aim at US with Indo-Pacific trade strategy, expert says
The proposal is seen as a response to Washington’s efforts to boost Indo-Pacific alliances to rein in Chinese military deployment and investment
Beijing’s plan to open up “China’s Hawaii” as a gateway for Indo-Pacific investment and economic ties is an attempt to counter the United States’ efforts to form alliances against China in the region, analysts say.
The Hainan plan, unveiled by President Xi Jinping in Haikou, the provincial capital, on Friday, will have “genuine value” for China’s trade with countries in the Southeast Asian and Pacific regions, according to Iris Pang, chief Greater China economist with banking and financial services provider ING.
The proposal comes as Washington works to build up its alliances in the Indo-Pacific region, including the Indian Ocean and the western and central Pacific Ocean, covering nations including Australia and India.
Washington’s moves are seen as an attempt to counterbalance Beijing’s increasing military deployment and investment in the region, especially through its massive infrastructure plan, the “Belt and Road Initiative”.
Manoj Joshi, a distinguished fellow at the Observer Research Foundation in New Delhi, described the Hainan development plan as a response to Washington’s “Indo-Pacific strategy”.
