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Three political entities currently qualify: the United States, the European Union, and China. Inducing China to become a responsible pillar of the global economic system (as the other two are) will be one of the great challenges of coming decades—particularly since at the moment China seems uninterested in playing such a role.
China has a profound interest in seeing that the international rules and institutions function effectively.
The United States remains the world's largest national economy, the issuer of its key currency, and in most years the leading source and recipient of foreign investment...
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