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With echoes of their own technonationalist competition of the 1980s and 1990s, the United States and Japan are changing how they manage trade policy, export controls, investment rules, research and development strategies, supply chains, and even visa guidelines to gain a technological edge, this time over China.
For all the talk of sweeping change, U.S. dependence on Asian manufacturing is both deeply rooted and remarkably stable over time.
The United States and Japan do not have to upend globalization to compete effectively with China. The challenge for Tokyo and Washington is to leverage their common concerns about Beijing’s economic behavior and minimize the differences between their respective approaches.
As the trade war between China and the United States intensifies, supply chains are starting to see the impact. But U.S. protectionism may be backfiring.
The world is watching as China hardens its foreign policy stance. As some countries begin to push back, the United States should bring these countries together to address their shared concerns.
Carnegie’s Yukon Huang and Michael Pettis will debate China’s growth prospects and economic policy trajectory, including the roles of the state and private sector and potential shifts in the growth model in a time of crisis.
The Chinese handling of the COVID-19 crisis clearly shows both the strengths and weaknesses of Beijing’s crisis management system. While the system remains excessively bureaucratic and consensus-driven, it also has standard, thorough, and well-organized crisis management practices that, once set in motion, in general operate very effectively.
The conventional wisdom was that China would seek an expanded regional role but would defer to the distant future any global ambitions.
As nations confront the pandemic, rumors of Kim Jung-un’s death and a flurry of North Korean missile tests injected even more uncertainty in the international landscape. How do views in Washington, Seoul, and Beijing differ or align on North Korea?
The only solution, victims of this virus assert, is to isolate and weaken Beijing and intimidate it with massive levels of defense spending, the go-to solution for virtually all of the United States’ foreign policy ills.