Therefore, it is clear that, for reasons related in part to these risks, in part to the potential damage to their reputation, Xi and his colleagues have chosen to stick to the most prudent course in human terms. That choice is also consistent with their obsession with geopolitical risk.
Natixis Senior Economist for Emerging Asia Trinh Nguyen, discusses the outlook for interest rates in Asia after the Fed hiked rates by 50 basis points this week. Nguyen says the Philippines will be next to tighten to combat inflation.
It threatens to upend domestic and global markets already struggling with the fallout from the pandemic and the Russian invasion of Ukraine.
There is increasingly a consensus in Beijing that China’s excessive reliance on surging debt in recent years has made the country’s growth model unsustainable. Aside from the economy’s current path, there are only four other paths China can follow, each with its own requirements and constraints.
That is why in China's case, depreciating the renminbi will not boost growth. It will simply reduce further the household share of GDP which, in turn, will further reduce the already-low consumption share in favor of more savings.
The Biden administration has identified climate and the environment as top strategic, diplomatic, and economic priorities for the United States. This should mean new opportunities for U.S.-Taiwan collaboration, as well as broader international coordination, but what will it look like in action?
But criticism comes in all shades and nuances. The case of China is unique. Its media supports Russia’s entire case for the "special military operation" and even relays Russian propaganda and fake news.
Algeria and Egypt pressed China’s telecom national champion Huawei for more value-added manufacturing and technology transfers. The company responded, but it ultimately improved its brand image without engaging in meaningful capacity building.
Giving up use of the U.S. dollar for global trade and reserve accumulation would be very difficult for U.S. adversaries and would require major economic adjustments, though it would be in the best long-term interests of the United States for the global use of the dollar to be more constrained.
Beninese officials have shown how even small countries can use close coordination between ministries and other negotiating tactics to strike deals with Chinese counterparts that better protect their own interests.