What Should the U.S. Fear From China?

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Aug. 5 (Bloomberg) -- Council on Foreign Relations Senior Fellow Elizabeth Economy discusses China’s regional power play “Bloomberg Surveillance.” (Source: Bloomberg)

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Time now for this matters now.

Tom, back over to you.

This matters now to our guest host, elizabeth economy is from the council of foreign relation, and also the author of "the river runs black," and her latest is "by all means necessary." she has just returned from india entrance formed by democracy and a china flexing its regional power.

What should the u.s. fear about this nascent power grab by china?

I do not think the united states needs to fear china, but i do think it needs to be cautious and proactive.

As we see china rise, we see a much more assertive security policy within the region, a far more expansive economic trade and investment policy, and i think the united states needs to understand that china is going to rise, and as it does, it is going to try to put in place at the own rules and its own norms.

When it does this, united states needs to be able to prepare to advance its own sets of values and ideals.

We can go out eight different ways here.

Let's go the silk route.

An american time silk road.

Discuss these ideas.

China has in mind linking all of asia through both the maritime silk routes that would go through the strait of morocco a laurentaround the horn of africa.

Russell crowe is in this movie, right?

[laughter] i hope so.

And a land-based that will go through china, central asia, and through europe and italy.

There is a plan for infrastructure, for roads and railroads, four ports, for an entire energy infrastructure.

In some respects, all roads lead to beijing.

In some ways, the rejuvenation of the great chinese nation.

We look at africa, this u.s.-africa summit in washington, we have got to mike bloomberg speaking with penny pritzker here in a bit.

China -- the late question is china is always out front of us in africa.

How far out front along the maritime silk route is china in africa?

I think it is important to recognize that they are out for and in some respects but not in others.

We have an inflated view and some weights of china's role in africa.

While it is the largest trading company for african countries, it's not the largest source of investment.

It is third and sometimes fourth in terms of investments in africa.

There's a lot of unrealized investment, but certainly china in its vision have become far more expansive than the united states.

Quite there is corruption in china.

Give us an update on the role of law in china.

Excited not think there is much of an update unfortunately.

-- i do not think there is much of an update, unfortunately.

Top chinese leadership has gone after former members and expanded network of senior officials, but it is not being done with the rule of law, there is no transparency in this.

There is not a sense that legal rules are being followed.

It is still up in the air whether this is primarily personal campaign or truly a widespread and far-reaching anticorruption campaign.

Your book "the river runs black" changes the dialogue in china.

Give us the word on water.

Is there hope they will solve this huge issue?

There is always hope, but i do not think there has been any real progress.

In some respects, producing new energy sources like fracking, which is water intensive, i think concerns can only grow as to sort of what china has in store for its water supply.

Liz economy with us, the new

This text has been automatically generated. It may not be 100% accurate.

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