China has showcased its engineering prowess with small modular reactor demonstration projects. But turning these technological achievements into commercial success will be a greater challenge.
Tong Zhao
{
"authors": [
"Adam Tooze"
],
"type": "other",
"centerAffiliationAll": "dc",
"centers": [
"Carnegie Endowment for International Peace"
],
"collections": [],
"englishNewsletterAll": "ctw",
"nonEnglishNewsletterAll": "",
"primaryCenter": "Carnegie Endowment for International Peace",
"programAffiliation": "EP",
"programs": [
"Europe"
],
"projects": [],
"regions": [
"North America",
"United States",
"Iran"
],
"topics": [
"Economy"
]
}REQUIRED IMAGE
If you want to do critical analysis of contemporary capitalism, stick with the trouble, stay inside the machine. Follow the people who are operating the machine and you’ll be amazed what they’ll tell you. Absolutely staggering what they will say out loud.
Nonresident Scholar, Europe Program, Carnegie Europe
Tooze is a nonresident scholar with the Europe Program and Carnegie Europe.
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.
China has showcased its engineering prowess with small modular reactor demonstration projects. But turning these technological achievements into commercial success will be a greater challenge.
Tong Zhao
The Plaza Accord was not an externally imposed punishment of Japan but part of a broader restructuring that Japanese economists and policymakers themselves recognized was necessary. Its effects were undermined, however, when Tokyo responded to the resulting slowdown with policies that exacerbated investment, credit expansion, and the very imbalances the adjustment was intended to resolve.
Michael Pettis
The nuclear relationship between China and the United States is increasingly shaped by widening perception gaps rather than deliberate strategic design.
Tong Zhao
China’s banking crisis in the 2000s was resolved by transferring the costs to households through financial repression—a decision that recapitalized the banks while exacerbating the structural imbalances that continue to shape the Chinese economy today.
Michael Pettis
But their "principal to principal" model will only be as effective as the political strength of each leader back home.
Damien Ma