 |
 |
 |
 |
 |
 |
 |
Nicholas Consonery is an Asia analyst at Eurasia Group. China will not be saving Europe. That scenario was floated as a possible, if not likely, outcome for the G-20 talks last week. But instead Beijing showed that it is, for now, still largely unwilling to shoulder responsibility for fixing the continent’s financial woes. What happened? [...]
Nicholas Consonery is an Asia Analyst at Eurasia Group. China’s leadership faces many difficulties these days. Exciting international investors about the Chinese currency, the renminbi, generally isn’t one of them. In fact, the explosion of the offshore renminbi market in Hong Kong since 2010 is perceived as a major success in Beijing. It will probably [...]
Be sure to check out the Economist.com which is currently holding a moderated debate related to Arvind Subramanian’s new book Eclipse: Living in the Shadow of China’s Economic Dominance. The motion being debated is: “This house believes that the yuan will be the world’s main reserve currency within 10 years.”
All the discussion about including the renminbi in the Special Drawings Rights (SDR) basket established by the International Monetary Fund (IMF) is a side-show or distraction with the real action being the conditional imminence of the renminbi’s rise. That is not a judgment, just a description of reality. Last week, the renminbi was in the [...]
The New York Times has a column on September 8th (“China’s Rise Isn’t Our Demise”) in which Vice President Joe Biden stresses the positive-sum rather than zero-sum nature of the relationship between China and the United States. But is it entirely positive sum? Are there elements of rivalry and possibilities of conflict? And how should [...]
Is China poised to take over from the United States as the world’s most economically dominant power? This is an essential question, and yet it has not yet been taken seriously enough in the United States, where, this central conceit still reigns: the United States’ economic preeminence cannot be seriously threatened because it is the [...]