Last week, Washington attempted two important policy feats aimed squarely in Beijing’s direction. U.S. Defense Secretary Ash Carter grabbed headlines by visitingthe South China Sea, after earlier announcing he would scrap a visit to Beijing amid rising tension over territorial disputes in the region.
Authors: Adam Segal and Tang Lan The National Bureau of Asian Research
While there continue to be significant differences between the perspectives of the U.S. and Chinese governments on issues in cyberspace, recent progress to overcome these challenges suggests a path forward, writes Adam Segal. Substantive cooperation on cybersecurity, cybercrime, and Internet governance can help both countries avoid a conflict over cyberspace.
Presider: Gideon Rose Speaker: Jacob S. Hacker Speaker: Stephen G. Brooks
Republican presidential candidates are calling for Washington to get tougher on an assertive China and reduce the size of the U.S. government. In a media call, contributors to the upcoming May/June issue of Foreign Affairs make the opposite case, calling for patience with China and a significant public role in boosting the domestic economy.
“Despite having the most powerful economy on earth, the United States too often reaches for the gun instead of the purse,” contend Council on Foreign Relations (CFR) Senior Fellows Robert D. Blackwill and Jennifer M. Harrisin a new book, War by Other Means: Geoeconomics and Statecraft. Instead, argue Blackwill and Harris, the United States must strategically integrate economic and financial instruments into its foreign policy—what they define as geoeconomics—or risk losing ground as a world power.
When U.S. presidential candidate Donald Trump mused about the possibility of Japan, South Korea and Saudi Arabia developing their own nuclear weapons, it was probably not his intention to highlight the success of the nuclear nonproliferation regime or the policy of President Barack Obama's administration.
Over the past two decades, many developing countries have turned away from free market capitalism and toward modern state capitalism, which is a combination of traditional state economic planning and elements of free market competition. In his new book, Council on Foreign Relations Senior Fellow for Southeast Asia Joshua Kurlantzick argues that modern state capitalism is ultimately “more protectionist, more dangerous to global security and prosperity, and more threatening to political freedom” than free market economics.
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.
A frank conversation between China and the United States about the future of the Korean peninsula could pave the way for greater cooperation to stymie North Korean nuclear ambitions, writes CFR’s Scott Snyder.
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.
For over six decades, the United States and Pakistan have suffered through a tormented and often tumultuous relationship, one defined at its apex by wartime alliance and at its nadir by stiff U.S. sanctions. In many ways, the period since 9/11 has mirrored that longer history, with expectations inflated and dashed, overblown rhetoric, and in the end, more frustration than satisfaction.
To ensure the success of Myanmar's historic democratic transition, the United States should revise its outdated and counterproductive sanctions policy, according to Priscilla A. Clapp, former chief of mission at the U.S. Embassy in Myanmar.
In testimony before the House Foreign Affairs Subcommittee on Asia and the Pacific, Alyssa Ayres recapped the trajectory of U.S.-India economic ties over the past decade and a half, and proposed ways to take the relationship forward.
The government of India filed suit on March 3 in the World Trade Organization (WTO) seeking to overturn a new U.S. tax on high-skilled migrants that India says discriminates against its citizens and would damage some of its most successful companies. The case marks the first time that a country's immigration laws have been challenged using the rules of a trade agreement, writes CFR’s Edward Alden.
Joshua Kurlantzick, a senior fellow at the Council on Foreign Relations, has written State Capitalism: How the Return of Statism is Transforming the World, a timely look at the phenomenon and its dangers to democracy and the economic order. Asia Sentinel is privileged to print this excerpt from the book, which is to be published by Oxford University Press in April.
Learn more about CFR’s mission and its work over the past year in the 2016 Annual Report. The Annual Report spotlights new initiatives, high-profile events, and authoritative scholarship from CFR experts, and includes a message from CFR President Richard N. Haass. Read and download »