The U.S. and Chinese Economies Are ‘Superfused’

“This is not a detachable relationship,” Zachary Karabell said, referring to the U.S.-China relationship, at the EastWest Institute yesterday. The visit by the author of “Superfusion: How China and America Became One Economy and Why the World’s Prosperity Depends On It” could not have been better timed, coinciding with President Barack Obama’s trip to the world’s third-largest economy and the largest owner of U.S. debt. “There is an interdependence that has begun to erode the sovereignty of both nations,” Karabell said, outlining the premise of his new book. According to Karabell, after the suppression of the Tiananmen Square protests in […]

Obama Holds Town Hall Meeting With Shanghai’s Students

President Barack Obama held a town hall meeting with Chinese students in Shanghai on his much anticipated trip to China. Though the conditions of the meeting were dictated byBeijing — students’ questions were pre-approved and the audience was a carefully selected batch of China’s finest,most obedient,youth — Obama managed to infuse some of his own message into the interaction. Throughout the exchangehe carefully broached subjects such as uncensored Internet access, freedom of religion and political participation. However, it was clear that any remarks the Obama administration had prepared for this encounter were calculated todiscuss sensitive topics without oversteppingclearly markedboundaries.

Off the Radar News Roundup

– China and Brazil reach a five-point consensus to strengthen military personnel exchanges, and technology cooperaiton. (Despite the emerging South-emerging East angle, France still makes a better fit for defense partnerships with Brazil.) – Free press vs. free pass: A high-ranking Chinese Communist Party official goes on a state visit to Sudan, and the People’s Daily doesn’t mention the problematic nature of that bilateral relationship once. – Taiwan and China finally signed that MoU on financial regulation. Financial observers exepect a major inflow of Chinese capital to Taiwan when it takes effect two months from now. – In addition to […]

China Will Remain a ‘Frenemy’

The NewsHour’s Jim Lehrer speaks with a panel of China experts in light ofPresident Barack Obama’svisit to the nation. Lehrer’spanelistsinclude the Atlantic magazine’s James Fallows, professor ofgovernment and China analyst Minxin Pei, and author and historian NiallFerguson. The panelists discuss the ways in which China can be apartner — albeit a limited one — as well as a contender for theUnited States. In summing up the complexrelationship with China thatspans economic, ethical and military dimensions, Ferguson refers to thedeveloping nation as a “frenemy.”

BEIJING — Although nuclear arms control is not likely to be a major agenda item during President Barack Obama’s visit to China, it should be. One of the obstacles facing the president as he seeks to realize the ambitious goals endorsed by the Nobel Peace Prize Committee is the need to transform the primarily bilateral strategic arms control relationship inherited from the Cold War into one that places greater emphasis on multilateral frameworks. Although Moscow and Washington have made progress in negotiating a replacement for the Strategic Arms Reduction Treaty (START) that expires this December, other nuclear weapons states must […]

Off the Radar News Roundup

– China announces yet another military cooperation upgrade, this time with Thailand. – This article about the followup to the Obama-Hatoyama meeting includes a good rundown of what the U.S.-Japan dispute over the Futenma air base closure is all about. – I mentioned the various competing plans for Asian regional integration earlier today. Here are the broad outlines of Japanese Prime Minister Yukio Hatoyama’s version. – In the runup to the one-year anniversary of the Mumbai attack, Pakistani Foreign Minister Shah Mahmood Qureshi issues a call for renewing the Composite Dialogue with India. – Turkey moves forward with its Kurdish […]

Australia and the Asian Security Puzzle

Over at the Interpreter, Hugh White writes that despite its (predictable) drawbacks, the F-35 remains the best option for Australia’s air force. White’s argument echoes the major outlines of the Australian defense debate, which Craig Snyder examined in his WPR Strategic Posture Review for Australia. Essentially, that boils down to whether Australia has a vocation to compete with “Asian major powers” (White’s term that I assume refers to China, India and Japan), or just with the lesser powers on its periphery in Southeast Asia. I’m flagging the article not so much to wade into that debate myself, but rather to […]

The Yuan Standard

IMF chief Dominique Strauss-Kahn joins the growing chorus of Western voices calling for a stronger Yuan to address unsustainable global trade imbalances. The overvalued Yuan is not the only structural adjustment necessary, of course. Clearly, American consumers (both private and public sector) are going to have to ween themselves off of their dependency on debt. But just as clearly, correcting the Yuan’s valuation is part of anydurable fix to the glaring problems in the global trade order. One way or the other, China is going to have to bite the bullet on the value of its dollar holdings and the […]

Off the Radar News Roundup

– Interesting, given the climate of anxiety in Washington over China’s military intentions, that in the week before President Barack Obama’s first state visit to the PRC, Beijing announces plans for closer military cooperation with Togo and Khazakhstan, to say nothing of Macedonia yesterday. – Fresh off a successful counterinsurgency campaign, a general quits his command amid rumors of a future in politics. Yet another reason Gen. David Petraeus will be keeping an eye on Sri Lanka. – When all you’ve got is nukes . . . In a leaked internal review, Russia’s military gets low grades on combat readiness. […]

Off the Radar News Roundup

– Among the agreements signed during Chinese President Hu Jintao’s visit to Malaysia was an MoU on banking regulation. This seems to be an increasing priority for Chinese regional policy. – Count World Bank President Robert Zoeller as the latest believer in the Yuan as an alternative reserve currency. – If China is looking to raise its profile in the Gulf, Qatar makes for a logical partner. – It looks like Japan and the U.S. have agreed to downgrade the Futenma base dispute, in advance of President Barack Obama’s imminent arrival in Tokyo. – China agrees to sell $1.4 billion […]

Beneficent Empire

Le Figaro reports that China is now the number one foreign operator in the Iraqi oil sector. I’m struck by the way in which markets we open, whether by war (Iraqi oil, Afghan copper) or diplomacy (Indian and UAE nuclear energy), are exploited by our friendly competitors (China and France, respectively). That explains why no real American empire is possible so long as we remain committed to the liberal market. It also shows how even an ideologically driven interventionism can be compromised by the adherence to the liberal global trade order. If democracy promotion in Iraq results in a net […]

China’s fifth generation of leaders is coming of age at a critical juncture in the history of the People’s Republic of China. Slated to assume power in 2012-2013, they will face both opportunities and challenges. Despite the current global economic and financial crisis, most projections of China’s continuing rise have it assuming the No. 2 spot in the international pecking order by that time, with further enhanced economic and political influence, but also heightened expectations and demands for Beijing to take the lead in global and regional affairs. At the same time, domestic issues, from ethnic unrest to growing income […]

Last month, Republicans bashed President Barack Obama for not meeting with the Dalai Lama during his swing through Washington, portraying the president as caving to pressure from Chinese “tyrants” who hold trillions of dollars in U.S. debt and view the Tibetan spiritual leader as Public Enemy No. 1. “You can bet the Chinese are using their influence in ways we do not even know about,” warned Rep. Dana Rohrabacher, the Republican co-chair of the Congressional Tibet Caucus. “This goes way beyond the Dalai Lama. The U.S. has permitted China to have a one-way free trade policy for decades, and now […]

On Oct. 1, the People’s Republic of China celebrated the 60th anniversary of its founding, most notably with an air show and military parade along Beijing’s Orwellian-sounding Avenue of Eternal Peace. The event showcased China’s arsenal of indigenously made fighter aircraft, tanks and newer-generation Dongfeng missiles, capable of delivering nuclear warheads to targets over 11,000 kilometers away. This was hardly the first time an authoritarian government has used a military review to impress its citizens and outside observers. And China has used non-martial events to display its national pride, confidence and strength. In many ways, last year’s Beijing Olympics served […]

BEIJING — One of the issues President Barack Obama will inevitably discuss when he visits China next week is the deadlocked Six-Party Talks seeking to resolve the North Korean nuclear crisis. Perhaps the most important difference between the 1994 Agreed Framework (.pdf), which settled the 1992-94 nuclear crisis, and the current Six-Party Talks is that the People’s Republic of China (PRC) has been considerably more involved in supporting the latter process. Chinese policymakers initially promoted the Six-Party Talks primarily as a means of preventing Washington from adopting more coercive measures — whether severe sanctions or military attacks — toward the […]

TOKYO — Those seeking political symbolism for Asia’s faultlines need look no further than the Dalai Lama’s press conference here on Saturday — complete with criticism of China, and delivered before he heads off for an extended stay in the Indian state of Arunachal Pradesh. Perched on India’s frontier with China, Arunachal Pradesh’s disputed border has been the focus of growing tensions between New Delhi and Beijing. On Friday, former National Security Adviser Brajesh Mishra became the latest in a series of respected Indian commentators warning of possible Chinese military action. The two countries fought over the state, which China […]

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