timelets

http://www.straitstimes.com/world/chinas-inexorable-rise-being-helped-by-us-retreat

Europe and Asia-Pacific now increasingly depend on China trade, e.g.

"With China's economic footprint across the Asia-Pacific region already large, countries in the region are now increasingly concluding that the US is consigning itself to growing economic irrelevance in Asia," former Australian prime minister Kevin Rudd wrote last month.

"US financial institutions will, of course, remain important, as will Silicon Valley, as a source of extraordinary innovation.

"But the pattern of trade, the direction of investment and, increasingly, the nature of intra-regional capital flows, are painting a vastly different picture for the future than the one that has dominated post-war Asia."