A recent article by Joseph Stiglitz suggests that the United States runs a current account deficit because its people save too little to fund domestic investment. In fact, he may have it backwards: Americans may save too little precisely because the United States runs a current account deficit.
The United States military has contributed to the maintenance of peace and security in the Republic of Korea for more than 67 years. Its commitment during this long period have shown their ability to respond to the changing and complex threats of Northeast Asia.
Some analysts say a major and direct cause of the imbalance in bilateral trade is the high level of expenditure by American consumers.
The threat of trade conflict with Americans could be good for the Chinese economy if it encourages the government to accelerate the domestic rebalancing that has been occurring since 2012.
Europe has concerns about China’s trade policies. But the two countries may want to unite for a more rules based global trade system.
Some White House advisors see trade deficits as a threat to growth and security. But no one wins in a trade war, certainly not U.S. and Chinese consumers who will have to pay higher prices.
Most of the discussions among economists about the impacts of tariffs and trade intervention are more ideological than logical. While tariffs may cause households to pay more for tradable goods, there are many other ways households, and the overall economy, are affected, positively and negatively. What matters are the conditions under which trade intervention policies are made.
Chinese capital originally destined for the United States switches to the European continent, making transatlantic collaboration more essential.
As relations between the United States and China worsen, the two must focus on creating a stable relationship from which both can benefit.
An expert panel discussion on denuclearization diplomacy, the Trump-Kim summit, and Plan B options to deter North Korean coercive behavior.
This Chinese-language monthly offers objective and original policy analysis on China for American and Chinese researchers and policymakers.
The Carnegie Asia Program in Beijing and Washington provides clear and precise analysis to policy makers on the complex economic, security, and political developments in the Asia-Pacific region.