China

Article

Of Debt and Detriment

Authors: Benn Steil and Emma Smith
Weekly Standard

Benn Steil and Emma Smith show how China mirrors the U.S. “exorbitant privilege” from minting the world’s primary reserve currency. While the United States is deeply indebted to the rest of the world, it still earns far more abroad than it pays out. China, in contrast, has become the world’s largest creditor while paying foreigners far more than it receives. Steil and Smith argue that China is making itself vulnerable to financial crisis by massively subsidizing its geostrategic objectives.

See more in China; United States; Economics

Other Report

The Korean Pivot: Seoul’s Strategic Choices and Rising Rivalries in Northeast Asia

Authors: Scott A. Snyder, Darcie Draudt, and Sungtae "Jacky" Park

As U.S.-China tensions intensify and as the North Korean threat grows, the importance of the Republic of Korea (ROK, or South Korea) as a pivot state in East Asia and as a valuable ally for the United States has become clearer than ever.

See more in South Korea; China; Diplomacy and Statecraft; International Organizations and Alliances

Op-Ed

Trump and China: 5 Views From Beijing

Author: Stephen Sestanovich
Wall Street Journal

When the Chinese Foreign Ministry expresses “serious concern” about things Donald Trump has said about Taiwan—and a party-controlled newspaper calls him “as ignorant as a child”—it’s clear that Beijing is alarmed. Yet after spending last week in China, I came away struck by the overall complacency of Chinese attitudes toward the president-elect, writes Stephen Sestanovich. 

See more in China; United States; Presidents and Chiefs of State

News Release

U.S. Has Failed to Ease Adjustment to Globalization and Free Trade, Says Alden in New Book

In Failure to Adjust: How Americans Got Left Behind in the Global Economy, Council on Foreign Relations Bernard L. Schwartz Senior Fellow Edward Alden explains why the political consensus in support of trade liberalization has collapsed, and how to correct the course.  The United States has contributed more than any other nation to writing the rules that created the competitive global economy of today, helping support stronger growth in much of the world. Yet successive U.S. administrations have done far too little to help Americans succeed under those rules, says Alden.

See more in United States; China; Globalization; Trade

Article

How The Next U.S. President Can Contain China In Cyberspace

Authors: Robert K. Knake and Adam Segal
Journal of International Affairs

When transition planning gets underway in earnest this fall, one of the hardest memos to write will be the outbrief from the current National Security Council (NSC) team on what to do about China’s ongoing campaign of cyber espionage targeting the intellectual property of U.S. companies. While long a focus of both the president’s cyber and China teams, there is little chance that in the coming months the issue is going to be brought to any type of resolution. Instead, the next president will inherit a partially implemented plan that has produced positive results in the short term, but its long-term sustainability remains uncertain. He or she would be wise to follow the playbook left by the Obama administration, with a redoubled focus on the investigation and prosecution of cybercrime.

See more in United States; Cybersecurity; China

Article

Relations in "Kim Jong Un's Era"

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

China-South Korea tensions rose with the announcement of the U.S.-South Korea alliance decision to deploy the THAAD missile defense system in South Korea and South Korean protests against illegal Chinese fishing. Exclusive economic zones (EEZs) remain another point of China-South Korea tension. Although China and South Korea seek to advance trade within various frameworks, such efforts only highlight a widening gap between the economic and political aspects of their relationship. Current security priorities require effective approaches to both immediate differences over THAAD and EEZs and longer-term preferences over how to effectively promote lasting stability on the Korean Peninsula, write Snyder and See Won Byun, PhD candidate in political science at the George Washington University.

See more in China; South Korea; Defense and Security; Trade

Article

US-Japan Relations: Hiroshima to The Hague

Author: Sheila A. Smith
Comparative Connections

Sheila A. Smith, senior fellow for Japan studies, overviews President Obama’s historic visit to Hiroshima in May and his last visit to Asia that reemphasized the regional priorities of his “pivot” to Asia. She, together with Charles McClean of University of California, San Diego, also examine the shared challenges the United States and Japan face such as domestic politics of each country,  the ratification of the Trans-Pacific Partnership, North Korean fifth nuclear test, and continued maritime tensions in Asia even after the ruling of The Hague came out.

See more in China; Japan; Regional Security