China’s nuclear ballistic missile submarine program is making rapid progress and is on the verge of providing Beijing with a credible sea-based deterrent. Its implications could be far reaching.
China is increasingly central in world politics. Western nations should remain open to its initiatives and engage it in dialogue through multilateral institutions.
President Trump’s new tariffs on $200 billion worth of Chinese goods begins on Monday. The impact on the U.S. economy is expected to be less severe but still substantial.
Washington and Tokyo are sending some conflicting signals regarding their policies toward China, bracing for strategic competition but also trying to strengthen cooperation in certain priority areas.
Chinese observers generally view the Singapore summit as a positive step toward denuclearization on the Korean Peninsula. However, many have come to question the success of the summit and whether the positive momentum that resulted from it is markedly slowing down.
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.