For the US and China, interdependence is a double-edged sword

Economic exchange can produce welfare gains, but it can also be used as a weapon. With the coronavirus outbreak, nature has reminded us how much the US and China are economically entangled. But politics is also involved as some in Washington form strategies for a second cold war and economic decoupling. Economic exchange can produce welfare gains for both sides, but it can also be used as a … https://on.ft.com/2UsPR2O

Proselytizing Power: The Party Wants the World to Learn from Its Experiences

In recent years the Chinese Communist Party (CCP) has stepped up its global outreach. Since Xi Jinping became General Secretary in November 2012, the CCP has significantly intensified its efforts to brief foreign political players on key policies and major meetings. It has done so through conferences in China and through sending official delegations to dozens of countries. These briefings have … http://bit.ly/2SrarOs

China’s dreams of world leadership are fading as its belt and road projects start to sour

The Belt and Road Initiative, hailed for promoting development, is coming under fire as debt burdens grow, reflecting a growing wariness of Beijing’s posturing as a global leader-in-waiting on an international stage that seeks to promote debate rather than censor it. President Xi Jinping has become accustomed to casting himself and China as natural heirs to the leadership of the global system. … http://bit.ly/2tASWTh

Investors need to position for a US-China clash of civilisations

A ‘great decoupling’ is under way between the incumbent superpower and its challenger. Financial markets welcomed last month’s truce in the long-running trade war between Washington and Beijing. But the “phase one” deal should fool no one. By parking core US complaints, including China’s weak intellectual property protection, forced technology transfer and pervasive state subsidies, the ceasefire … https://on.ft.com/3bbT3pp

How Beijing’s Silence Helped Spread the Virus

Beijing’s blaming of local officials and signs on a clampdown on information about the Wuhan coronavirus outbreak has tragic echoes of the mishandling of the SARs virus more than a decade ago. The question that Congress asked Richard Nixon about Watergate decades ago – what did he know and when did he know it? – is ripe for a 21st century rerun, this time directed to Chinese leaders about the … http://bit.ly/2U8af9g