Beware Of The ‘Assurance’ Dilemma

The US ‘rebalance’ to the Asia–Pacific has been under way since late 2011. Then Secretary of State Hillary Clinton wrote in October 2011 of a “strategic turn to the region…to secure and sustain America’s global leadership”, and President Obama’s speech to the Australian parliament in November 2011 gave a presidential imprint to the policy. So, almost four years […]

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Silk Road Wide Enough For China-US Cooperation

Over 2,000 years ago, the ancient Silk Road, a 7,000-km-long trade route created by camel-driving merchants, started to link China with Europe via central and west Asia. Today, the ancient invention still inspires both China and the United States when they work out their respective blueprints to promote regional development. Sprouting from the inspiration, the US “New […]

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India And Iran: Challenges And Opportunity

Overall, India’s diplomacy with Iran has been rooted in economic interests and buttressed by civilizational links. New Delhi’s contemporary cooperation with Tehran is mainly premised on India’s energy security, access to Afghanistan and Central Asia, and its enduring rivalry with Islamabad. It is worth emphasizing that India’s interests in Central Asia are substantial, and it […]

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India Plays Hard Ball In Afghanistan

Though India’s ambassador to Afghanistan has rejected suggestions that New Delhi is heading for a strategic shift in relations with Kabul, India’s decision not to revive the Strategic Partnership Agreement signed in 2011 is being viewed as a sign of New Delhi’s displeasure over the Afghan unity government’s outreach to Pakistan at the cost of […]

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Secular Stagnation: The Dismal Fate Of The Global Economy?

China has many levers to pull economically, and stagnation and lower potential growth are relative. But the global hunt for economic growth by central banks will be a persistent source of volatility in financial markets. Without the ability to jump start their economies using traditional monetary policies, central banks will use unconventional policies more often […]

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Selling Off The State In China

The good news is Xi is changing tack. Rather than just tossing more stimulus at the economy and stocks, he’s redoubling efforts to reform the inefficient and opaque state-owned enterprises at the root of so many of China’s vulnerabilities. In other words, Xi is finally working to strengthen China’s foundations rather than papering over the […]

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