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In the midst of a wrenching global financial crisis, business and academic experts from around the world met in Beijing to discuss the causes and implications of the crisis. Although there was disagreement over the severity of the crisis, all participants agreed that it marks the end of the unbridled free-market economy in the U.S.
China is shifting its focus from growth to the broader goal of development, which includes a wide range of social and economic policy objectives. To examine the nature and impact of that transition, Carnegie hosted an event with KC Kwok, chief government economist of China's Hong Kong Special Administrative Region. Albert Keidel, senior associate at Carnegie, moderated the discussion.
The countries of the East won't be banding together to replace the West as the seat of global power anytime soon. Many trends do suggest that Asian nations are becoming more integrated than ever before. At the same time, however, a virulent nationalism is spreading in the region, one that feeds on history to gin up hatred and push small-minded agendas.
There are six lessons of the Russia–Georgia crisis for Taiwan: (1) Be careful about security commitments; (2) Don’t provoke an antagonist and expect to be rescued; (3) A constructive relationship between America and major powers is essential to the security of vulnerable states; (4) Geography matters; (5) Speak softly when you don’t plan to carry a big stick; and (6) Credibility is global.
The Olympic Games boosted the Chinese Communist Party's popularity among its citizen, the vast majority of whom are proud of their country and the spectacular performance of their athletes. However, the Games won't lead to dramatic change in China's political future; they strengthened the party's rule, leaving it under less pressure to reform.
The Bush administration, in its eagerness to expand trade with China, has relegated consumer safety to the backseat. As the world's top consumer of Chinese goods, the U.S. has the clout to sway China's behavior, but the administration has alternately ignored safety concerns and accepted assurances from the world's fastest-growing exporter that it will clean up its act.
China used the Beijing Olympics as a showcase for its new found economic clout and ascendancy as a leading member of the international community. Although the resounding success of the Games has bolstered China's authoritarian regime and shielded it from the scrutiny it deserves on human rights issues, China deserves praise for embracing the world.
Russia's invasion of Georgia raises doubts about the common assumption that, in the post-Cold War world, geopolitical conflict will eventually be replaced by economic interdependence and cooperation. As countries like Russia and China begin to strengthen, however, this trend does not necessarily mean that America must relinquish its superpower status.
Although the Western press reports that average Chinese citizens are immensely proud of the Olympics, these Games are not very important to China's "forgotten" rural citizens, who comprise over half of its population -- 200 million of them earn less than $1.25 per day, a near-African wage. The Olympics have only made their lives tougher.
The Olympic Games cap a decade of Chinese re-engagement with the world and demonstrate China's newfound confidence on the world stage. Despite these investments, the government has not done a good job of fulfilling its basic responsibilities regarding environmental quality and improved healthcare for citizens.
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