Both are accurate. China certainly "has risen" to become a global economic power: in only three decades, it has transformed itself into the world's second largest economy, largest exporter, and largest provider of loans to the developing world. At the same time, China is rising: its economic and political system, as well as its foreign policy, is still developing. To state categorically that China "has risen" is to accept that the China of today will be substantially the same as the China of five to ten years from now, and few people in or outside China would accept such a conclusion.
Deputy National Security Adviser for Strategic Communication Ben Rhodes held this conference call with National Security Council Senior Director for Asia Danny Russel and Deputy National Security Advisor for International Economics Mike Froman, to preview Japanese Prime Minister Shinzō Abe's visit to Washington, on February 22, 2013.
Secretary John Kerry gave these remarks at the University of Virgina on February 20, 2013. His speech focused on the importance of foreign aid and a strong U.S. economy in addressing foreign policy challenges.
Representatives from U.S. Departments of Commerce, Defense, Homeland Security, Justice, State, Treasury, the Office of the Director of National Intelligence, and the Office of the United States Trade Representative collaborated to create this strategy, addressing threats to the intellectual property and innovation of the U.S. economy.
Examines data including GDP, household debt, and industrial production to show the weakness of the current recovery compared to previous postwar rebounds.
Robert Kahn, CFR's Steven A. Tananbaum senior fellow for international economics, leads a conversation on the current state of the U.S. economy and the challenges that lie ahead.
Former co-chairs of the President's bipartisan National Commission on Fiscal Responsibility and Reform Erskine Bowles and Alan Simpson proposed a new deficit reduction plan on February 19, 2013, through their organization Moment of Truth. Their plan projects reductions by $2.4 trillion over the next decade, with cuts to Medicare, Medicaid, Social Security, and discretionary spending, and ending or curbing deductions and tax breaks.
Michael Spence argues that effective management of the assets side of national balance sheets is critical for promoting market efficiency, innovation, and resiliency.
Contrary to those who see a future of "globalization on steroids," Joshua Kurlantzick says the reality of today's economic slowdown is that it will leave as its legacy the worst degloblization in modern history.
G20 finance ministers and central bank governors issued this communiqué at the summit in Moscow on February 15 and 16, 2013. Major agreements from the discussions include refraining from devaluing their currencies devaluation and enforcing corporate tax laws.
Peter Orszag argues that simplifying access to financial aid can help more Americans earn college degrees, reduce inequality, and boost economic growth.
The president's annual address set the stage for more political wrangling over U.S. fiscal policy at a time when decisiveness is crucial for the economy, writes CFR's Robert Kahn.
President Barack Obama, European Council President Herman Van Rompuy, and European Commission President José Manuel Barroso gave this joint statement on February 13, 2013. It announced the launch of negotiations for a Transatlantic Trade and Investment Partnership, at the recommendation of a report from the U.S.-EU High Level Working Group on Jobs and Growth.
"Nowhere is this more heartfelt than in Italy. The euro is more than a currency: It is the strongest symbol of belonging to Europe, a relationship that many Italians hope can teach them better governance."
Led by EU Trade Commissioner Karel De Gucht and Unites States Trade Representative Ron Kirk, the U.S.-EU High Level Working Group on Jobs and Growth presented its final report on February 11, 2013. It recommended the launch of trade and investment negotiations between the United States and the European Union, which leaders announced they would do.
Germany's Bundesbank remains an influential actor in eurozone policymaking, and its recent disagreements with the ECB raise concerns about managing the zone's debt crisis. This Backgrounder explains.
Michael A. Levi and Daniel P. Ahn say, "If lawmakers decide to go ahead with further deficit reduction, they would be remiss not to take a hard look at higher oil taxes as part of the deal."
The Council on Foreign Relations' David Rockefeller Studies Program—CFR's "think tank"—is home to more than seventy full-time, adjunct, and visiting scholars and practitioners (called "fellows"). Their expertise covers the world's major regions as well as the critical issues shaping today's global agenda. Download the printable CFR Experts Guide.
Special operations play a critical role in how the United States confronts irregular threats, but to have long-term strategic impact, the author argues, numerous shortfalls must be addressed.
The author analyzes the potentially serious consequences, both at home and abroad, of a lightly overseen drone program and makes recommendations for improving its governance.
Two experts argue that despite myriad development strategies, only one can succeed in alleviating poverty in India: the overall growth of the country's economy. More
