China

Testimony

Objectives and Future Direction for Rebalance Economic Policies

Author: Elizabeth C. Economy

In testimony before the U.S.-China Economic and Security Review Commission, Elizabeth Economy discussed the economic components of the “rebalance to Asia” and its prospects going forward. She recommended that the U.S. Congress ratify TPP, continue to support the Ex-Im Bank, and increase support for NGO operations across the Asia-Pacific in fields such as legal education and anti-corruption that help promote good economic governance. She also called for greater coordination between commercial diplomacy and strategic economic plans and greater support for the proposed U.S. New Silk Road initiative.

See more in China; United States; Economics

Op-Ed

The Trump-Sanders China Syndrome

Authors: Benn Steil and Emma Smith
Wall Street Journal

Benn Steil’s op-ed in the March 30 edition of the Wall Street Journal, co-authored with Emma Smith, looks at presidential campaign charges that China is engaged in “currency manipulation” to boost net exports.  They show that the aims of China’s pegged exchange rate regime have varied over the past two decades, and have not always been mercantilist. In recent months, with capital flowing out of China at a prodigious rate, its interventions have been to keep its currency up—not down.  Launching a trade war with China over currency management, as Donald Trump and Bernie Sanders intend, would therefore be nonsensical—as well as damaging to U.S. interests.

See more in China; United States; Monetary Policy; Elections

News Release

CFR Report: China’s Slowing Economy Will Fuel A More Nationalist Foreign Policy

In light of China’s deepening economic slowdown, “China’s foreign policy may well be driven increasingly by the risk of domestic political instability,” write Robert D. Blackwill, Henry A. Kissinger senior fellow at the Council on Foreign Relations (CFR), and Kurt M. Campbell, the Asia Group’s chairman and chief executive officer, in a new Council Special Report. “Economic growth and nationalism have for decades been the two founts of legitimacy for the Communist Party, and as the former wanes, [Chinese leader Xi Jinping] will likely rely increasingly on the latter.”

See more in China; Diplomacy and Statecraft

Op-Ed

Can Taiwan Show Beijing and the World How Disputed Islands Should Be Used for Peace?

Author: Jerome A. Cohen
South China Morning Post

In this op-ed, published following the visit of outgoing Taiwanese president Ma Ying-jeou to Taiping Island in the South China Sea, Cohen outlines how peaceful initiatives could be developed on the island to help address tensions in the South China Sea and other parts of East Asia.

See more in Taiwan; China; Diplomacy and Statecraft; Regional Security

Article

What’s Behind China’s Apparent Abductions of Its Critics Abroad?

Author: Joshua Kurlantzick
World Politics Review

Joshua Kurlantzick looks at the international and domestic factors within China that appear to be behind the rising pace of abductions and deportations, a significant signal that China’s economic, diplomatic, and military might is simply becoming too much for many Southeast Asian nations to resist.

See more in China; Censorship and Freedom of Speech; Regional Security

Video

China Policy and the U.S. Presidential Election

The president of the United States will have to deal with a rising and more assertive China on a wide range of issues, including Asia-Pacific security, trade, and cybersecurity. U.S.-China relations will likely continue to be a mix of competition and cooperation. The central question for bilateral relations is: Can the world’s two largest economies avoid increased competition and even conflict?

See more in China; Politics and Strategy

Article

China-Korea: A Complex China-ROK Partnership

Authors: Scott A. Snyder and See-won Byun
Comparative Connections

The September China-South Korea summit in Beijing catalyzed the resumption of trilateral talks with Japan in October and the launch of the China-South Korea free trade agreement in December. Beijing’s Korean engagement also included a visit to North Korea in October by Chinese Politburo Standing Committee member Liu Yunshan for 70th anniversary celebrations of the founding of the Workers’ Party of Korea (WPK). Despite new initiatives to expand economic cooperation, Pyongyang’s apparent defiance of Chinese diplomatic efforts on denuclearization suggests further difficulties in China-North Korea relations.

See more in China; South Korea; Diplomacy and Statecraft; Regional Security