Word: china
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Other than complain, there's little either can do to halt this integration. Punitive tariffs backfire. The Obama Administration's 35% tariff on imports of Chinese tires potentially hurt Goodyear's operations in Ohio because the company had developed a cost structure that uses production in China as a way to maintain its U.S. operations. China threatened to retaliate with tariffs on U.S. chicken parts. If tires and chicken parts are the worst of it, so much for trade wars...
...emergence of China will shape the world much as that of the U.S. did in the late 19th century. What remains to be seen is whether the rise of China will complement the U.S. or undermine it; whether the future will bring a new, cooperative and mutually beneficial economic order rather than a predictable replay of one great power giving way to the next. That future - burgeoning with possibilities and fraught with challenges - is ours to write...
Karabell is the author of Superfusion: How China and America Became One Economy and Why the World's Prosperity Depends...
...pictures of China on the wild side...
During her tenure, Faust has made a point of emphasizing the University’s international character, travelling to China last year for a Harvard Alumni Association conference...