In his current Asian trip, President Obama visits Japan, then addresses a forum of leaders in Singapore, and eventually ends up in Seoul to discuss nukes and North Korea. But make no mistake, the axis of this week is the time Obama will spend in China, which has catapulted to the forefront of international affairs and is on its way to joining the United States as the alpha and omega of the global economic system.
Read moreThe Winds Are Still Blowing East
While Washington is glued to the drama over health care, over the past few days, Russian Prime Minister Vladimir Putin has been in Beijing meeting with Chinese leaders including Premier Wen Jiabao and President Hu Jintao. In a series of communiqués, they celebrated the “strategic partnership” between the two countries and charted a course of future close relations.
Read moreSuperfusion: How China and America Became One Economy and Why the World’s Prosperity Depends on It
The economic relationship between China and the United States is the defining issue of our day. While debates over health care are vital to American society, and while challenges ranging from Iran to Afghanistan to North Korea are real, nothing will determine the arc of the coming decades — or will shape domestic life and prosperity in the United States — more than the emergence of China as a global economic superpower unrivaled except by America.
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Krugman Is Wrong: Why China Won’t Revalue
For years, Americans have been fulminating about China and its policy toward currency. While many of the debates are technical and laden with econo-speak, they boil down to the simple conviction that China is unfairly manipulating its currency to keep it undervalued against the dollar. The result is to give China unfair advantages in trade - flooding the US with cheap goods, hurting labor wages world-wide, and accumulating massive surpluses in the process.
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Zachary Karabell: U.S.-China Trade
National trade statistics do a bad job of capturing the reality of U.S.-China economic relations, says Karabell.
Read moreZachary Karabell: U.S.-China Competition
More important than how China will evolve, says Karabell, is whether America will continue to innovate and remain a dynamic economy in order to stay a necessary partner to China.
Read moreZachary Karabell: China's Population & Demographics
What is the significance of China's billion-plus population?
Read moreSuperfusion
Zachary Karabell argues that the U.S. and Chinese economies have become so intertwined that disrupting either one would have tragic consequences. He spoke at the Carnegie Council in New York City.
Read moreChina's Growth: Still for Real
This week, the Chinese government announced that China's economy had expanded by a stronger-than-anticipated 10.7 percent in the last quarter of 2009 and that it had grown 8.7 percent for the entire year. This news, however, was not greeted with relief but with the skepticism that has typically met such news emanating from China in recent years. The Wall Street Journal ran a story on its front page with the headline "China Seeks to Tame Boom, Stirs Growth Fears."
Read moreZach Karabell from Rivertwice Research
Zach has a new book called Superfusion
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