Carnegie Endowment for International Peace
Fears about Asia’s rise warrant a more balanced and critical look. China and India's international standing should not be overstated because both face serious economic and social constraints that will limit their growth.
China's fiscal stimulus, intended to increase domestic consumption in the face of lagging U.S. demand by expanding bank lending, may in fact have the opposite effect by creating bad loans— the fallout of which will ultimately inhibit consumption.
The Strategic and Economic Dialogue should aim to resolve what seem like domestic policy conflicts between China and the United States, but which are ultimately trade rebalancing issues.
A tightly coordinated, well-executed S&ED may be just the format to advance the world's most important bilateral relationship.
Don't believe the hype about the decline of America and the dawn of a new Asian age. It will be many decades before China, India, and the rest of the region take over the world, if they ever do.
When the Chinese Communist party toasts its post-Tiananmen success, it should be under no illusion that the good times are here to stay.
Fears that the global financial crisis will generate political turmoil or cause the CCP to lose its grip on power are overblown.
Chinese leaders view the international community as fundamentally defined by antagonism; an outlook that is unlikely to change until and unless the regime changes.
The Chinese Communist Party's top priority remains what it has always been: the maintenance of absolute political power.
Asian countries are responding to the economic crisis with policies that may temporarily boost growth but that are likely to make the transition from a development model that emphasizes personal savings and increasing production more difficult.