“A Test of American Leadership”
Emanuel Pastreich
JoongAng Daily
July 7, 2014
link
The Independence Day bash hosted by the American Embassy at the Hyatt Hotel on Friday was not visibly affected by the massive banquets held simultaneously to welcome President Xi Jinping on his historic state visit to Seoul. But the quiet of the moment should not deceive us as to the seriousness of the situation. The perfectly choreographed visit of Xi implies a profound, multifaceted, challenge to American leadership in East Asia, of which most Washington pundits have failed to take note.
First, we must face the facts. China is no longer a cheap place for Korean companies to manufacture goods for export to the West. It is emerging as a major investor in Korea and a significant source of tourists and their yuan. China is growing into a major market in its own right for Korean goods and services. The businessmen who accompanied Xi Jinping on this visit were granted a level of access once reserved for the U.S. Chamber of Commerce. I expect the impressive new Chinese Embassy in Seoul will be flanked by the offices of many Chinese businesses in the years to come. Read more of this post