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To ensure the success of Myanmar's historic democratic transition, the United States should revise its outdated and counterproductive sanctions policy, according to Priscilla A. Clapp, former chief of mission at the U.S. Embassy in Myanmar.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.
The East and South China Seas are the scene of escalating territorial disputes between China and its neighbors, including Japan, Vietnam, and the Philippines. The tensions, shaped by China's growing assertiveness, have fueled concerns over armed conflict and raised questions about Washington's security commitments in its strategic rebalance toward the Asia-Pacific region.
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.”
Robert D. Blackwill and Kurt M. Campbell analyze the rise of Chinese President Xi Jinping and call for a new American grand strategy for Asia that "seeks to avoid a U.S.-China confrontation and maintain U.S. primacy in Asia."
On February 23, 2016, Chinese Foreign Ministry Spokesperson Hua Chunying spoke at the daily press conference about Chinese Foreign Minister Yi's visit with U.S. Secretary of State Kerry and territorial disputes in the South China Sea and with Taiwan.
In this op-ed, Cohen describes the mounting frustrations among certain judges, lawyers, and other legal professionals as ideology and politics continue to take precedence over the rule of law in China.
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 »