China is a global powerhouse and the second largest economy. They saw tremendous growth in GDP again in June. Their premier and official position is they’re confident in continued economic growth. They’re also confident they can handle and manage any financial risks to the renminbi.
Most of the agreements involve trade and regulatory coordination. But the big idea, as I’ve noted elsewhere, is that even as bilateralism appears to be on the rise in systemically important countries, it is far from easy to operationalize.
At last month’s meeting of Asia-Pacific states, US officials reiterated one of the less noticed positions of the 2016 Presidential campaign: we’re willing to talk trade with pretty much anyone, but only bilaterally. Regional deals aren’t really in the cards.