Despite the trilateral hardening of positions, the Taiwan issue is too important to let slip out of control.
Paul Haenle will sit down with Anja Manuel to examine ongoing challenges to the global rules-based order. This discussion is the second of Carnegie China's 2022 Distinguished Speakers Series and will also be recorded and published as a China in the World podcast.
In the first half of this two-part blog post, I discussed the problems affecting four rural banks in Henan and the subsequent mortgage boycott in parts of China. In the second half, I argue that these crises need to be seen not as isolated events but rather as signs of systemic problems that reveal a great deal about China’s finances and balance sheet.
Importantly, the future of large-value cross-border payments in Southeast Asia and the renminbi’s role depend in part on how Washington responds to efforts aimed at transforming local currency financial infrastructure in the region.
Despite their similarities, these South Asian states are vastly different in their approaches to debt and China.
The Chinese economy has been wracked by rural bank defaults and boycotts over mortgage payments. In the first half of this two-part blog post, I will explain these events and what they reveal about the health of Chinese markets. In the second part, I will discuss some of the crisis’s systemic implications.
In some sense, these laws are codifying powers that the Chinese government possesses anyway as an authoritarian regime. It can at any time put out a restriction on trade or cultural exchange designed to penalize a company or country. Whether there is a legal or nonlegal basis is irrelevant.
The purpose of the rural banks was to support the rural community. The problem is that small banks tend not to be diversified. They tend to be highly concentrated in certain industries and in certain regions.
A retired Army lieutenant general discusses why a tenet of PLA modernization has been validated by the conflict—but is also paradoxical.
The external growth environment has deteriorated amid slackening demand in the West, rising inflation and the Ukraine crisis. Internally, China’s troubled property market, unresolved mortgage financing issues and “zero-Covid” policies have damaged growth prospects.