Word: willing
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China is not the Soviet Union. There's no Jade Curtain falling over Asia. And if Moscow sought security through expansion, China's leaders will take another path. Uneasy about collision and aware of their weakness, they are likely instead to manipulate and eventually reshape the international system. Such an...
At first glance, this might look sinister. But the reality is that it is simply different and not yet necessarily good or bad. China could try to reshape the global order alongside the U.S., in ways that help by supporting American economic recovery, defining new norms on proliferation, cooperating on...
The struggles with China over the relative value of its currency capture this dynamic well. The renminbi - it means "the people's money" - is the place where China's control economy touches the free-market world. Just as tensions with the Soviet Union sharpened at places where systems collided, the...
Here's an example of where China wants to both secure its interests and avoid conflict. The real puzzle about China's currency isn't just the value of the renminbi. It is, rather, how open China will be to flows of money. China has three choices: it can remain...
Part of the reason co-evolution could work is that it puts China alongside the U.S. in thinking about these new rules. That won't be easy. The U.S. is used to telling the rest of the world what to do. It will require energetic diplomacy. Practically, one item on...