Located at the southernmost end of the city of Guangzhou, Guangdong province, is Nansha district, a State-level new area overseen by the Guangzhou municipal government. To its 846,000-plus residents, it is simply a place to live. But to the Hong Kong Special Administrative Region, it is a place brimming with opportunities.
Russia’s unprovoked war against Ukraine has accelerated the division of the world into two blocs, one comprising the world’s democracies and the other its autocracies. This, in turn, has exposed the risks inherent in economic interdependence among countries with clashing ideologies and security interests. Although the coming deglobalization process would leave everyone worse off, China stands to lose the most.
Of course, China was headed toward at least a partial decoupling with the US well before Russia invaded Ukraine. By reducing its dependence on US markets and technology, it has been seeking to ensure that this process happens on its terms.