China's pursuit of natural resources is restructuring markets, pushing up commodity prices, and transforming resource-rich economies. Elizabeth C. Economy and Michael Levi explore the unrivaled expansion of the Chinese economy and the global effects of its meteoric growth.
After President Obama's cancelled trip to Asia this month, some analysts have posited that the U.S. pivot to Asia is dead. Not so fast, argues Elizabeth Economy. This assessment represents a fundamental misunderstanding of U.S. policy, and the United States still has multiple interests in the Asia Pacific.
In a section of this week's "Saturday Essay" in the Wall Street Journal, Elizabeth Economy says that China has been critical of the United States' Syria policy, hoping to highlight U.S. weakness and signal the onset of a power transition in the international system. However, she argues, China's observations about U.S. indecisiveness and Russian leadership only serve to emphasize China's inability to find its own diplomatic legs.
Elizabeth C. Economy says corruption and the failure to develop rule of law in China now define much of the country's political and economic life. With Xi Jinping poised to take over, the focus should be on significant political reform.
Elizabeth C. Economy says the world waits for stability in China's transition, but recent events in China like the two-week absence of Xi Jinping and Bo Xilai's expulsion from the CCP underscore the deep uncertainty that defines China's political system.
Elizabeth Economy provides a brief assessment of President Obama's China visit during his trip to Asia, writing that, "it was, optically, one of the worst U.S. presidential visits to Beijing in memory," however, substantively, it was on par with recent presidential trips to China.