For China, the situation has been complicated further by US President Donald Trump's evident view of the country as a strategic competitor, rather than a strategic partner, not to mention massive domestic social change and rapid technological disruption. The only way to mitigate the risks that China faces is with a tough, continuous and comprehensive reform strategy. © AP Photo / Ted S. Warren'Many in the US Feel Deep Angst About China's Economy' - ProfessorYet, unlike many emerging economies, China does not struggle with a currency mismatch thanks to its large foreign exchange reserves and persistent current-account surpluses, which make it a net lender to the rest of the world. But China has not avoided the third mismatch, between debt and equity: The credit-to-GDP ratio doubled over the last decade highlighting China's underdeveloped long-term capital and equity markets. Industrial Strategies Key … [Read more...] about How China Can Manage Its Global Risks
Ted understanding the rise of china
Earlier this month I had a chat on the fate of the planet and humanity in a Brooklyn bookstore with David Biello, who recently became curator of science at TED (as in talks) after many years at Scientific American. The subject was his first book, “Unnatural World: The Race to Remake Civilization in Earth’s Newest Age” — a brisk, unsettling and, yes, hopeful, guide to the Anthropocene. We also touched on my recent magazine essay, “An Anthropocene Journey.” The discussion was happily recorded by Heleo, a web enterprise devoted to fostering consequential conversations. Read on for excerpts from the video and Heleo’s helpful transcript, but I encourage you to watch and/or read the longer conversation at the links below: Andrew: The concept of the Anthropocene is that Earth has entered an age that a species is in charge of. Weâre not the first species to become a planetary force. A couple billion years ago, cyanobacteria created … [Read more...] about TED’s Science Curator Sees Hope in Earth’s Anthropocene Age
China is building a very 21st century empire—one where trade and debt lead the way, not armadas and boots on the ground. If President Xi Jinping’s ambitions become a reality, Beijing will cement its position at the center of a new world economic order spanning more than half the globe. Already, China has extended its influence far beyond that of the Tang Dynasty’s golden age more than a millennium ago.The most tangible manifestation of Xi’s designs is the new Silk Road he first proposed in 2013. The enterprise morphed into the “Belt and Road” initiative, a mix of foreign policy, economic strategy, and charm offensive that, nurtured by a torrent of Chinese money, is rebalancing global political and economic alliances.Xi calls the grand initiative “a road for peace.” Other world powers such as Japan and the U.S. remain skeptical about its stated aims and even more worried about unspoken ones, especially those hinting at military expansion. … [Read more...] about China’s Empire of Money Is Reshaping Global Trade
WE HEAR … That the rescissions package -- the budget cuts the White House and House Majority Leader Kevin McCarthy are pushing -- has shrunk to less than $30 billion, and will not see the light of day until early May. WHAT IS GOING ON??? … NYT’S NICK FANDOS: “[Senators] have also received claims that [the Veteran Affairs Secretary nominee] Dr. Ronny L. Jackson drank too much on the job.” https://nyti.ms/2HUE9Wk Story Continued Below -- WAIT A SECOND: Shouldn’t this alarm us? The president’s physician should not be drinking at all while working. TRUMP ON RONNY JACKSON, in a press conference with French President Emmanuel Macron: “I haven’t heard of the particular allegations, but he's one of the finest people I’ve ever met. … They failed to stop [Mike Pompeo’s nomination for secretary of state]. So now they say ‘who's next? Who's next?’ … I told [Jackson], I said, ‘You know what, doc? … [Read more...] about Power Briefing: Trump and Macron ‘close to understanding each other’ on Iran
No country globally rivals China’s predatory and protectionist practices. President Trump has justification to demand a higher level of Chinese global citizenship and trade fairness. The immediate question becomes which U.S. sectors are the near, intermediate, and longer-term winners and losers. The agricultural sector has gone through a lengthy consolidation period. The ongoing building global fiscal, monetary and trade friction has the potential to extend the ag sector’s consolidation period. Consider: Strategic Planning China has few, and some would say no, equals when it comes to a long-term strategic fiscal, monetary, trade, and regulatory policy plan. Through theft of intellectual property rights (a common practice among nations) and other means they are accelerating mastery of cutting-edge biotechnology, artificial intelligence, robotics technology, etc. With each passing year China is eroding the United States’ financial, technological, regional, … [Read more...] about How will China policy affect U.S. economic sectors?