The founder of modern Singapore, Lee Kwan Yew, who passed away recently, had a rather pointed assessment of what’s known as the U.S. “Asia pivot” policy: Americans think of international relations like a movie, imagining that we can hit the pause button when we need to and then push play when we want to return. No doubt, there has been much for the U.S. to focus on elsewhere in the world recently, from Russia to Iran. But in past weeks, it seems that the movie in Asia has been on fast-forward around global development and financing. And once again, the U.S. is scrambling to catch up.
China’s New Development Bank Is a Wake-Up Call for Washington
And American businesses need to pay attention too.
April 20, 2015