U.S. President Barack Obama’s effort to “rebalance" American foreign policy toward Asia secures a new milestone Monday as he welcomes leaders from the Association of Southeast Asian Nations to the Sunnylands estate in California for a two-day summit. While the U.S. offers a powerful counterweight to a newly assertive China, President Xi Jinping wields greater economic heft in the region. China overtook Japan to become Asean’s biggest trading partner in 2009, after displacing the U.S. a year earlier.
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