Word: worldly
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...great deal of maturation still awaits China. We can't forget that it has only been really open to the world for 30 years under Communist rule. The country's basic tools of international affairs - like a robust national-security apparatus - are still under construction. And they have not yet been tested by crisis. China is ambitious, to be sure, but it is too insecure to be audacious yet. In the next 10 years, this will change. China will build a global-size foreign policy apparatus just as it has built stadiums and airports. But will this framework be crafted...
...cable from Washington, proposing ideas that made no sense for the nation he saw around him. Summoning his energy, Kennan dictated an 8,000-word reply to Foggy Bottom, the Long Telegram that became the defining document of the Cold War. The Soviet Union, Kennan explained, looked at the world and sensed danger in every corner. Its reaction would be to seek expansion as a way to guarantee its security. And the solution he proposed became known as containment, the doctrine that dominated the next 50 years of policymaking...
...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 same will be true of China: the renminbi is the new Berlin. It needs to be handled with appropriate sophistication by both sides, especially since it reveals a deeper tension. Chinese find it inconceivable that the dollar will be the only global reserve currency in 10 years; Americans find it inconceivable...
...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 unplugged from the global system, it can plug in gradually, or it can say, We're the largest developing country in the world and everyone wants to invest here, so we're going to make our own rules. This is the sort of challenge China will pose in many areas. It'll want to configure the system so it fits its needs - whether in relation to exchange rates, nuclear proliferation, how to handle North Korea...
...follows that any actions by China that threaten global stability have to be rebuked. The habit of trying to make China cooperate only by granting concessions has not worked. Co-evolution suggests a different approach. It acknowledges the importance of giving China a say in how the world develops but demands in exchange an absolute commitment to curtail activities that make it more dangerous. It's a case of saying to China, You're a partner in managing the global economy, but you can't then manipulate your currency to gain unfair trade advantages. Or: We'll respect your interests...