In containing North Korea, Japan and South Korea should be our allies, not dependents.
And while America cannot abdicate her responsibility and role in this crisis, we should be asking ourselves: Why is this our crisis in 2013?
President Eisenhower ended the Korean War 60 years ago. The Chinese armies in Korea went home. Twenty years ago, [...]
China’s government-controlled enterprises are targeting the U.S. market and pose a threat to U.S. companies, free markets, and fair trade, according to a forthcoming report by a congressional Chinese commission.
“The Chinese system of state capitalism or ‘capitalism with Chinese characteristics’ has blocked many of the potential benefits of a free market, not only in [...]
Once the world admitted China to the World Trade Organization in 2001, we welcomed the country into our free-markets. We trusted the global economy would evolve toward free and fair trade. We then set our policies on cruise control, assuming the world would follow the U.S. model.
Instead, China got a hand on the steering [...]
In a special report on state capitalism last January, the Economist admitted that “the era of free-market triumphalism has come to a juddering halt.” Liberal capitalism in the U.K. and the U.S. isn’t just convulsed with internal crises caused by unregulated financiers. It now faced “a [...]
Dr. Doom Nouriel Roubini is once again warning of a perfect global storm in 2013.
In his latest Project Syndicate column Roubini warns of dark “financial and economic clouds” from Europe, the U.S., China and the Middle East.
Yet China’s reckoning is coming in slow motion, and the world is only now noticing. The hundreds of billions of dollars of stimulus China tossed at its economy sowed the seeds of trouble. The money was spent haphazardly and inefficiently, creating fresh asset bubbles, inflation and a legacy of bad debt at China’s biggest banks. [...]
A report out of the World Bank on Monday called for China to scale back on the dominance of state-owned companies and complete the transition to an open market economy, or face potential collapse. The report apparently has the endorsement of Beijing’s most powerful leaders. But can it really be as simple as that? And [...]
In the run-up to Chinese Vice President Xi Jinping’s visit to the United States this week, Cui Tiankai, the vice foreign minister, said it all: China and the United States suffer a “trust deficit.” That is true; myriad factors — including different political systems, a rapidly growing list of issues with which the two countries [...]
It is an astonishing yet scarcely acknowledged fact that on no fewer than 14 out of 15 issues relating to property rights and governance, the United States now fares markedly worse than Hong Kong. Even mainland China does better in two areas. Indeed, the United States makes the global top 20 in only one: investor [...]
It wasn’t bad enough that the vast majority of economists completely and totally missed the global financial crisis starting in 2007-2008. Then they prescribed precisely the wrong medicine to fix the problem – throw money at it. Where has that gotten us into the 5th year of the crisis? Apparently, they didn’t learn anything from [...]