Economics & Global Affairs

95 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.

A History of the Energy We Have Consumed

Rahm Emanuael/Wikimedia Commons

Analysis & Opinions - The New York Times

A History of the Energy We Have Consumed

| June 18, 2018

Early in Richard Rhodes’s new book, “Energy: A Human History,” we hear of a prominent citizen using colorful language to lament the state of his polluted city and urge his government to shut down industry or move it elsewhere: “If there be a resemblance of hell upon earth, it is in this volcano [on] a foggy day.” Though this could easily apply to modern-day Beijing, the speaker here is John Evelyn, a wealthy horticulturalist and one of the founders of the scientific Royal Society of London — and he’s complaining about London in 1659.

President Donald Trump and Chinese President Xi Jinping, with their wives, first lady Melania Trump and Chinese first lady Peng Liyuan are seated during a dinner at Mar-a-Lago, Thursday, April 6, 2017, in Palm Beach, Fla. Ivanka Trump, the daughter and assistant to President Donald Trump, and White House senior adviser Jared Kushner are seated at left. (AP Photo/Alex Brandon)

AP Photo/Alex Brandon

Analysis & Opinions - The Washington Post

The most important economic challenge that China poses

| Apr. 09, 2017

Focusing on China’s trade deficit with the United States is largely misguided. Yes, China subsidizes various exports to the rest of the world in a number of ways. But if the United States succeeds in stopping the subsidies or blocking the subsidized products, the result will be that companies will shift production to Vietnam and other low-wage countries—not create good jobs in the United States.

A worker refurbishes a lamp post in Beijing blanketed by heavy smog

AP

Analysis & Opinions - Bulletin of the Atomic Scientists

Ideology Trumps Science

| Mar. 31, 2017

"President Donald Trump's executive actions of earlier this week, which attempt to undermine progress made under President Barack Obama to combat the menace of human-caused climate change, are yet another example of the new administration's propensity to let blind ideology "trump" clear-eyed science and good sense."