The last time Australia was mired in recession, Boris Yeltsin had yet to stand on a tank in Moscow, and the Clinton era hadn’t begun. In 1991, Australian trade with China was a modest A$3.6 billion (about the same in U.S. dollars). In the preceding decade unemployment had averaged 7.8 percent, as Australia struggled to develop tourism […]
Some of China‘s most respected public intellectuals are warning that society and economy are being held hostage to the wealth-maximizing requirements of the political elite. These warnings echo privately in business circles, too, where entrepreneurs continue to be enthralled by the prospects of short-term profits but increasingly alarmed about their personal and financial security. Officials in developed […]
NEW YORK — Eleven years ago today, some two dozen Japanese citizens were among the nearly 3,000 people killed in the terrorist attacks that brought down the World Trade Center. The date is now immortalized as “9/11,” and its aftermath has changed the world in countless ways. With the benefit of hindsight, the world may well […]
As the United States and China circle each other in Asia, many in Washington hope and some in Beijing fear that India might become a military counterweight to the middle kingdom. However, two recent visits to Delhi by U.S. Defense Secretary Leon Panetta and Chinese Defense Minister Liang Guanglie suggest that India’s prudent approach is […]
A paper published by China‘s biggest telecommunications equipment maker said the company’s path into the United States had been blocked by unsubstantiated “allegations based on allegations” that threatened to harm ties between the world’s two biggest economies. The complaint published by Huawei Technologies Co – topped by a reference to McCarthy-era Red Scare witch-hunting – was […]
…the rapidly developing China-DPRK economic relations have certain problems that need to be solved. Pyongyang has a trade deficit with Beijing and does not have enough foreign exchange reserves. Besides, its economy is anemic and has entered a vicious circle. The imbalance in China-DPRK trade is not only an impediment to DPRK’s development, but also has […]
If you were to measure the recent economic performance of the world’s major countries — say, those that comprise the Group of 20 — you might be surprised to find Russia among the top performers by most common metrics. This outcome is a fact. For example, based on data compiled by The Economist, Russia’s real growth in gross domestic product in the first half of 2012 at 4.4 percent exceeded all […]
“THE Pacific is big enough for all of us,” declared Hillary Clinton, America’s secretary of state, on August 31st. Or is it? Xinhua, the official Chinese news agency, countered this week that the ocean is also “small enough to create conflicts that can threaten peace in the region and the world at large”. Certainly, America […]
Questions do linger, and not only about Mr Xi’s health. That in itself is of course a matter of great import. He is currently China’s vice president, looks a bullish 59 years old, and has been groomed as the man who in coming months will replace Hu Jintao, the outgoing president and Communist Party chief, […]
“GOING OUT” is the name China calls its strategy to increase outward foreign direct investment (ODI—ie, not the FDI coming in), first proposed in 1999 and implemented in earnest five years later. From 2004 to 2011, China’s ODI grew from $5.5 billion to over $65 billion a year, and it is expected to reach $150 billion by […]
looking beyond borders 