Hearing on China’s New Leadership and Implications for the United States - February 7, 2013 Economic Rebalancing in China: For the past several years China’s top leadership has repeatedly described the country’s current economic model as “uncoordinated, unsteady, imbalanced, and unsustainable.” This language is in sharp contrast to what has been a decade of apparent success: [...]

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Michael Pettis’ new volume, The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the World Economy, is an important new take on the ramifications of global imbalances, in particular for China and the United States. The book sketches the familiar outlines of Chinese domestic and external imbalances, a sky-high investment share of GDP, [...]

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2012 was a record year for Chinese investment in the United States. Chinese firms completed U.S. deals worth $6.5 billion, a 12 percent increase from the previous record of $5.8 billion in 2010. This new record reflects both the growing determination of Chinese firms to expand overseas and the attractiveness of U.S. markets and assets [...]

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Note: This is an excerpt of the forthcoming PIIE Policy Brief Understanding the Trans-Pacific Partnership by Jeffrey J. Schott, Barbara Kotschwar, and Julia Muir. The text of this post was also the basis for the author’s remarks at The Trans-Pacific Partnership and the Future of International Trade event (the webcast of which can be found [...]

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President Obama’s announcement of progress and support for the Trans-Pacific Partnership (TPP) during the recent Asia-Pacific Economic Cooperation (APEC) summit has led to new scrutiny of the role of SOEs in Asia. Many business groups, including the Chamber of Commerce and the Coalition of Service Industries, have argued that any agreement must include provisions that [...]

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Nicholas Consonery is a China analyst at Eurasia Group. Last week Chinese regulators asked the Big Four audit firms (PWC, Deloitte Touche Tohmatsu, Ernst & Young, and KPMG) to recheck their work from 2010 and to report any information on Chinese firms that was shared with international regulators. The move comes on the heels of [...]

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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 [...]

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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 [...]

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