Economics & Global Affairs

74 Items

Aerial view of Shanghai World Financial Center and Jin Mao Tower

Mgmoscatello/Wikimedia Commons

Analysis & Opinions - Foreign Affairs

Stop Obsessing About China

| Sep. 21, 2018

The United States is a deeply polarized nation, yet one view increasingly spans the partisan divide: the country is at imminent risk of being overtaken by China. Unless Washington does much more to counter the rise of its biggest rival, many argue, it may soon lose its status as the world’s leading power. According to this emerging consensus, decades of U.S. investment and diplomatic concessions have helped create a geopolitical monster. China now boasts the world’s largest economy and military, and it is using its growing might to set its own rules in East Asia, hollow out the U.S. economy, and undermine democracy around the globe. In response, many Democrats and Republicans agree, the United States must ramp up its military presence in Asia, slap tariffs on hundreds of billions of dollars of Chinese goods, and challenge China’s influence worldwide.

But this emerging consensus is wrong and the policy response misguided. China is not about to overtake the United States economically or militarily—quite to the contrary. By the most important measures of national wealth and power, China is struggling to keep up and will probably fall further behind in the coming decades. The United States is and will remain the world’s sole superpower for the foreseeable future, provided that it avoids overextending itself abroad or underinvesting at home.

Russian President Vladimir Putin, right, meets with Saudi Arabia Deputy Crown Prince Mohammed bin Salman at the Hangzhou International Expo Center in Hangzhou in eastern China's Zhejiang province, Sept. 4, 2016.

AP

Analysis & Opinions - Foreign Policy

Vladimir of Arabia

| November 2, 2016

"Despite being on different sides of the Syrian civil war, Putin has managed to bring Riyadh into its diplomatic orbit through cooperation on oil policy, given how both Saudi-led OPEC states and Russia need substantially higher prices for government budgets to break even."

Donald Trump speaking at a rally in Fountain Hills, Arizona, March 20, 2016.

(Gage Skidmore CC)

Analysis & Opinions - Foreign Policy

No, @realDonaldTrump Is Not a Realist

| April 1, 2016

"...[R]ealists in academia and in the policy world support the basic principles of free trade and oppose the protectionist ideas Trump routinely invokes. Realists favor free trade not because they believe economic interdependence guarantees peace, but because they regard economic power as the foundation of national strength and international influence, and they believe protectionism and autarky are strategies that weaken a state's economy over time. Trump is correct that one needs a strong economy to be a great power — let alone a global superpower — but his ideas on how to preserve that status are so … well, 17th century."