China’s rise continues to present tremendous strategic challenges and opportunities for the United States and its allies and partners. Today, Beijing aims to connect the majority of the world’s population under the Belt and Road Initiative, dominate high-tech industry, and forge a world-class military. Despite the sustained, structural momentum behind China’s growth, increasing economic uncertainty, paired with long-term demographic challenges and tightening domestic political control, have further complicated the trajectory of Chinese power and influence in the decades ahead.
Beijing “must act" to contain the corona virus outbreak, Miyeon Oh says, "especially in light of the indirect but potentially massive economic, social, and political impacts of the coronavirus in the region and around the world.” There is growing concern in Beijing as well, Robert A. Manning added, “that if this pandemic is only in its early stages, it could become the straw that broke the camel’s back for an already anemic economy.”
Washington, DC—January 27, 2020—The Atlantic Council’s Middle East Programs today announced the addition of Jonathan Fulton as a nonresident senior fellow. Fulton specializes in the increasingly important field of Chinese policy toward the Middle East and last year wrote an Atlantic Council report on the subject. “Jonathan has already made notable contributions to the debate […]
With the “phase one” trade deal behind them, the United States and China will now probably shift attention to sorting out their economic and trade relationships with Europe. Caught in the middle of the US-China trade war and geopolitical competition, the European Union (EU) has tried to steer an independent course, balancing security and geopolitical concerns with economic and business needs. Doing so, however, has exposed many differences vis-a-vis the United States as well as China.
The importance of the Shanghai-London Stock Connect suspension will depend on whether additional policy moves targeting large British firms will follow. In terms of tangible effects, this event causes little economic disruption, but is probably the most symbolically important use of Chinese financial sanctions thus far.
Overall, the three early 2020 agreements have started to transform the multilateral rule-based system into a largely bilaterally managed, outcome-based system. RTAs and their new practices accelerate the fragmentation of the world trading system into numerous trading zones with different overlapping memberships and trade coverage, tariffs, quotas, and quantitative trade targets, plus other rules such as local content and country of origin requirements as well as dispute settlement processes.