Report
Tim Maurer, Arthur Nelson
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The Case for Pragmatism and an Opportunity for Sino-U.S. Leadership
Increasingly disruptive and destructive cyber attacks pose an unprecedented threat to the global financial system. This challenge presents an opportunity for the United States and China to work together rallying behind their shared interest in protecting financial stability.
By Tim Maurer
Published on Jun 21, 2018
Source: Hoover Institution
Geopolitical tensions are on the rise worldwide, including between China and the United States. This will make multilateral cooperation and engagement generally, and diplomatic efforts focusing on more comprehensive frameworks specifically, more challenging. At the same time, the technological change will persist, transforming societies that become increasingly digitally connected in terms of both humans and machines. Governments can either manage emerging risks associated with this transformation proactively or respond reactively to them after major incidents. Some of these risks have a systemic dimension requiring particular attention. This includes the financial system, and clear warning signs are already on the horizon. The United States and China have an opportunity to proactively mitigate these risks given their shared interest and their combined influence. Cooperating in this more narrowly defined area holds greater promise in the current political environment than more ambitious initiatives do. The initiative outlined in this paper could be the blueprint for such a joint endeavor when the political window of opportunity presents itself.
This piece was originally published as part of the Hoover Institution’s Aegis Paper Series.
About the Author
Tim Maurer
Former Senior Fellow, Technology and International Affairs Program
Dr. Tim Maurer was a senior fellow in Carnegie’s Technology and International Affairs program.
- International Strategy to Better Protect the Financial System Against Cyber Threats
- How Cloud Computing Can Deal With Lightning Strikes and HackersQ&A
Tim Maurer, Garrett Hinck
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Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
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