Quick Take | At Davos, Asia steps into the spotlight as US influence dims

Washington’s stubborn isolationism leaves it out of the global conversation and heading towards an agenda on trade and security shared by almost nobody else

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Politburo member Liu He said China was confident as a global economic leader. Photo: EPA

Published: 7:00pm, 25 Jan 2018Updated: 7:00pm, 25 Jan 2018

I’m writing this from the central lounge at the World Economic Forum in Davos on Wednesday. There’s a feeling of fast turnover here – the leaders of Canada, Germany and Brazil have all appeared and headed off in quick succession. But there are certain themes emerging. In particular, ideas about Asia are shaping people’s conversations.

That’s not the headline about Davos this year, of course. The anticipated arrival of Donald Trump on Friday is stoking up excitement and controversy. But the US president’s arrival is not sucking the oxygen from the discussion rooms. More and more, it looks as if the conversation has moved on while the United States heads towards an agenda on trade and security shared by almost nobody else.

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The keynote opening speech was by Indian Prime Minister Narendra Modi, who gave an assured if uncontroversial account of India’s growth rate and the positive opportunities that might come from foreign investment in India. But at the smaller, more technical gatherings in the forum, the real detail was being thrashed out.

Indian Prime Minister Narendra Modi gives the keynote speech at Davos. Photo: AFP

A special forum on financial technology in India talked in confident terms about bringing about a cashless society. One conversation pointed me towards the possibility that female entrepreneurship might be transforming India’s countryside (and Modi’s reelection prospects) through subsidised loans. A day later, Liu He, China’s economic mastermind and member of the Politburo, expressed confidence in Beijing’s capacity to strengthen international institutions and the global trading framework, echoing the speech President Xi Jinping gave at this location last year.

Quick Take | At Davos, Asia steps into the spotlight as US influence dims

Washington’s stubborn isolationism leaves it out of the global conversation and heading towards an agenda on trade and security shared by almost nobody else

Opinion: China’s Asia vision harks back to 1945, with one difference – money

WATCH: Xi Jinping’s right-hand man says China’s economy will continue to open up