The Asia-Pacific region is undergoing enormous change, fueled by high levels of economic growth and deepening levels of integration. These and other forces are generating a shift in the distribution of economic, political, and military power across the region.
Public and elite attitudes in the United States and especially China are exerting a growing influence on the bilateral security relationship.
War is unlikely between China and Japan, but ongoing crises are not. Bold diplomacy is needed.
Both the United States and China need to recognize the nature and seriousness of the tensions and suspicions that have accumulated between the two powers over the past few years.
The first and only unclassified strategic net assessment of the future impact of China’s growing military power on Japan and the United States.
The international monetary system helped countries liberalize trade and limited protectionism during the Great Recession. But countries with pegged exchange rates remain a threat to trade, especially if the peg is undervalued.
Although World Trade Organization policies helped limit the increase in protectionist measures during the recent financial crisis, a mutually reinforcing set of legal and structural changes in the world economy played a larger role in keeping global markets open.
The forces that kept protectionism at bay during the financial crisis—chief among them, national laws, regional agreements, and structural economic shifts—should be the focus of future trade negotiations.