China

China’s Two Sessions: No Solid Plan for the Economy

Antonio Graceffo

Each year, governments around the world monitor the Two Sessions to see what China has planned for the coming year. This year is of particular interest because China is in the worst state economically and diplomatically that it has been in for several decades.

BRICS Currency Is Unlikely -- The Dollar Remains the World’s Currency

Antonio Graceffo

The problem with a BRICS currency would be that it would only be useful for purchasing imports from other BRICS countries. It would not be convertible into dollars or other currencies. It could not be used to purchase U.S. Treasury securities nor to pay off foreign debt. It would be impractical for use in FDI, even in other BRICS countries. FDI generally involves construction and infrastructure projects, requiring raw materials that could not be purchased using BRICS currency.

Impact of the U.S National Defense Authorization Act on Taiwan

Antonio Graceffo

Although the Foreign Relations Authorization Act for  fiscal 2003 designates Taiwan as a “major non-NATO Ally,” Washington maintains “strategic ambiguity” -- meaning that the U.S. takes no official position as to whether  Taiwan belongs to China. Taiwan’s fate is to be negotiated between China and Taiwan; however, that negotiation must be free and peaceful. To ensure that Taiwan is not invaded by China, the Taiwan Relations Act of 1979 requires Washington to provide Taiwan weapons of a defensive nature.

China’s Real-Estate Crisis: An Economic Perfect Storm

Antonio Graceffo

Year after year, China’s real-estate sector has been considered the best place for Chinese people to invest. As a result, housing prices have continually risen, until they reached price levels only attainable by combining intergenerational wealth. In a country with a one-child policy, it has become necessary for four grandparents and two parents to pool their money, to purchase a home for their only descendant.

Straddling the Wilderness Between Russia and China in Colin Thubron’s ‘Amur River’

Lee Polevoi

During his travels, Thubron crosses more than 1,100 miles along this vast waterway—not only on horseback, but by train, car, and boat. His trek encompasses visits to desolate villages and decaying monasteries, with encounters that range from friendly and well-meaning, to more sinister interactions with local police. Who says no one is intrepid anymore? Colin Thubron is intrepid.

Ukraine: A Deeper Look Into the Threat of a Potential World War

Antonio Graceffo

At the end of World War II, Russia wanted assurances that NATO would not shift eastward, threatening Russian territory. After the fall of the Soviet Union, however, Ukraine and other Eastern European nations became independent, removing the buffer zones between Russia and NATO. Romania, Bulgaria, Poland and the Baltics have all become NATO members, and Russia sees this as a security concern.

The New Great Game and Shifting Alliances: U.S., India, Russia, China, and Pakistan

Antonio Graceffo

The original Great Game was played out in the 19th Century, between Britain and Russia in Afghanistan, an ever-shifting military, economic, and geopolitical competition, which often took the form of proxy wars, with the great powers backing local forces, to fight one another. Today, the region is host to an even larger and more complex Great Game, with implications for the fate of the modern world, as it is being played out between several of the world’s largest, nuclear-capable, armies: the United States, India, Russia, China, and Pakistan.

China’s Economy Teeters While Xi Tightens His Grip

Antonio Graceffo

Over the past decades, the Chinese economy has been growing, at breakneck speed, largely fueled by tremendous export volumes, massive debt, and over-reliance on the real-estate sector. Now, manufacturing is suffering under ongoing coronavirus lockdowns, energy shortages, and supply-chain disruptions. The debt bubble seems about to burst, and the real-estate industry will be the first casualty, with ripples eventually being felt throughout China and the rest of the world.

Why the Taiwan Question Matters

Antonio Graceffo

Taiwanese President Tsai Ying-Wen, a popular, pro-independence leader who has been elected to her second term, has thanked the U.S. and other Western countries for their support. She gave a speech on National Day, saying, “We will not bow to China.” Taiwan is firmly committed to remaining independent, but is careful not to declare independence.

President Biden Promises More Successful Diplomacy and Foreign Policy

Kelly Hyman

Regarding China, Biden described his relationship with President Xi Jinping as “cordial” but acknowledged concerns over rights abuses and expects to compete with China on multiple levels such as trade, technology, and military power. He has also addressed China’s growing dominance in Iran, warning the Xi government that the U.S. will enforce Trump administration sanctions on Iranian oil—which China is increasingly buying.

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