Silk Road vision for the developing world

In 2015, global headlines reflected mounting concerns about China's slowing economy and whether the country could maintain its reform momentum and complete its shift to a new growth model based on higher domestic consumption and expanded services. Although Chinese leaders are undoubtedly mindful of the growth slowdown, they remain focused on ensuring the realization of President Xi Jinping's Belt and Road Initiative. That will remain true in 2016.

China is now the world's largest trading country and the second-largest economy. But, as China's leaders know, much more needs to be done to secure what Xi has called "the great rejuvenation of the Chinese nation". To join the ranks of the world's high-income economies, China must use markets and resources, both at home and abroad, more efficiently. And it must assume more responsibility - and assert more influence - on the global stage.

The current world order undeniably favors the interests of the United States and its allies. That made sense after World War II, when the order was established. But the global balance of power has changed. If China is expected to be a "responsible stakeholder" in world affairs - and it is - it needs a more prominent role in international decision-making.