Dominant power should leave space for the rising rest

Larry Summers is an insider of the Obama administration having served as director of the White House United States National Economic Council from January 2009 to November 2010.

The economist, however, is unhappy about the Obama administration's lack of accommodation for a rising China.

Just back from a trip to China, Summers, former US president Bill Clinton's treasury secretary, believes China is likely to account for between one-third and one-half of growth in global incomes, trade and commodity demand. In an article published in the Financial Times on Monday, he claimed that its significance will only increase as its share of the world economy rises.