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The simple formula that says a cheaper renminbi will spur exports and increase China’s growth is misguided; far more important are concerns about destabilizing capital flows and economic adjustment.
China’s economic model is broken and needs to change, but the proposed economic reforms will not succeed unless the Chinese state reshapes itself in far-reaching ways.
A central challenge facing India’s new government will be to reemphasize the economic dimensions of the country’s international strategy.
Adjusting GDP for differences in purchasing power makes a great deal of sense in certain cases, but the way it is done is so filled with problems that it is extremely difficult to find any economist who takes these measures very seriously.
China cannot win the battle for regional sentiment so long as the debate is about security and sovereignty, on which Beijing’s hard position leaves little room for compromise.
Obama and Abe need to privately hammer out a coordinated response to a possible skirmish between Japan and China over the Senkaku/Diaoyu Islands.
China will see a rise in banks’ nonperforming loans and increasingly frequent defaults in the bond and shadow banking markets. This process will be very messy but is unlikely to derail the economy.
President Obama’s upcoming visit to Malaysia is the perfect time to begin developing a strategic partnership between Kuala Lumpur and Washington.
The excavation of the Bujang Valley complex should be seen as an effort to preserve Malaysia’s venerable national heritage and used to build a multicultural nation that can accommodate diversity.
Instead of trying to disperse growth to the smaller cities, China’s planners should embrace the market forces that encourage its mega-cities to grow still larger.