The initiative could be the most significant coordinated development undertaking in history. But success is far from certain.

There are no reliable polls in China to assess the preference for the outcome of U.S. presidential election. The Chinese are conflicted but, in the end, probably prefer a Hillary Clinton victory.

HONG KONG -- China's leadership well recognizes that a pure economic target is not enough. A well-developed economy, a fair distribution of wealth, a decent living standard, a healthy environment, a civil and upright society and a just society governed by the rule of law -- this is China's vision for the next few decades.

China's recent market meltdown has raised significant questions about the country's transition to a consumer-led economy. As the Chinese economy slows, the question is not if, but how will the Chinese Government react?