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  • China

    Two Decades of Investment on Display

    This week, China celebrated the 60th anniversary of the People’s Liberation Army Navy (PLAN) with a large military parade to display to the world how far the PLAN has come and where it intends to go. The scope of China’s military advancements in recent decades was summarized well in the … More

    Don't Just Do Something, Stand There

    The Department of the Treasury has again declined to label China a currency manipulator. This will ruffle some feathers on the Congress, labor groups, certain industries, and some plain ol’ regular Americans. Those with ruffled feathers can make good points but Treasury is still right to have done nothing. There … More

    The True Story On Chinese Bond Purchases

    The New York Times today both informs and misleads on China’s role in the American economy. The Times headline warns, “China Slows Purchases of U.S. and Other Bonds.” That may well be true, but it isn’t supported in the story that follows. The story actually cites slower growth in the … More

    China Far from Responsible Stakeholder

    Initial Chinese reaction to the launch of North Korea’s missile, in clear violation of UN Security Council Resolutions, is true to form. They will go along with international consensus just as far as they need to in order to blunt it. Last time around, in 2006, the PRC played the … More

    Bad News (Mostly) From Britain

    The G-20 summit communiqué has been released. As we predicted, it has something for everyone, though rather more for the Europeans than the Americans, and even less for the Chinese. And there are constructive points in it, though whether they will amount to much remains to be seen. But by … More

    Currency Misdirection from Beijing

    A paper by Chinese central bank chief Zhou Xiaochuan — arguing the world should move off the dollar system — has attracted much attention. Like so many economic stories involving the PRC, there is less here than meets the eye. It is hardly a new thought. Beijing has wistfully imagined … More

    A Russian-Chinese Axis at the G-20?

    Earlier this week, Russia issued a radical call for the eventual replacement of the dollar as an international reserve currency, and its replacement by a new, fiat currency to be created by a global regulator. The prospects for agreement on this at the G-20 summit in April, to put it … More

    China, Cap and Trade, and Futility

    The Washington Post reports today: Li Gao, China’s top climate negotiator, said any fair international agreement to curb the gases blamed for global warming would not require China to reduce emissions caused by goods manufactured to meet demand elsewhere. The idea that China would ever make cuts in carbon emissions … More

    China's Banker Blues

    This Saturday the Washington Post reported: Exerting its new influence as the U.S. government’s largest creditor, China yesterday demanded that the Obama administration “guarantee the safety” of its $1 trillion in American bonds as Washington goes further into debt to combat the economic crisis. … China surpassed Japan last year … More

    China, Debt, and Influence

    Speaking at his annual press conference, Chinese Premier Wen Jiabao expressed concern about the outlook for U.S. government debt: “We have made a huge amount of loans to the United States. Of course we are concerned about the safety of our assets. To be honest, I’m a little bit worried. … More