China

In domestic policy, president-elect Obama faces the need for urgent and radical action, above all of course concerning the economy, but also on health coverage and financing social security. In foreign policy, matters are rather different. There, what he does not do will be just as important as what he does. After the hyper-activism of the Bush presidency, there is an urgent need for a long period of caution and restraint.

Military overstretch, financial constraints and cooperation with other powers to deal with the world economic crisis… more

"There was this incredible liquidity" flooding onto Wall Street from oil exporters, China and other emerging nations during the years when revenues were booming earlier this decade, said Doug Rediker, co-director of the Global Strategic Finance Initiative at the New America Foundation.

Through lopsided trade deficits with China and oil-exporting nations, "the U.S. was exporting [dollars] to other countries, and they needed to do something with them. They had to put the money to work" by investing in U.S. markets, Mr.… more

There's probably no nation in the world more emblematic of the pitfalls and challenges of rapid modernization than South Korea. South Korean society is a caldron of competition and contradiction, caught between respecting the past and striving for the future. And now it seems this nation -- which worked its way from the Third World to the First World in a single generation, and whose people show the strain by working more hours, consuming more hard liquor, having more sex and committing more suicides than… more

The financial crisis is raising serious questions about the future of American power. Can the United States sustain the burdens of global leadership while we dust ourselves off from what looks like a near-knockout blow to our economy?

As Zachary Karabell has argued, we are now seeing a globalization of finance that parallels the globalization of manufacturing that began in earnest in the 1970s. Wall Street is no longer the center of the financial world as wealth flows from our shores to the Gulf and Asia's… more

These days it is not fashionable to speak of empires, which are considered to be aggressive, mercantilist relics supposedly consigned to the dustbin of history with post-World War II decolonization and the collapse of the Soviet Union. Many then predicted that ethnic self-determination would drag the world into a new era of political fragmentation as the number of countries proliferated from fewer than 50 at the end of World War II to, potentially, hundreds in the 21st century, with every minority getting its own state, currency, and… more

It was just last year that those of us raising alarms about the massive half-decade market failure in the United States to adequately provision broadband services were facing a misinformation campaign that raw numbers mattered more than percentage rankings. According to this argument, the U.S. broadband market was sound because we had more broadband lines than anyone else.

The misinformation brigade got so much attention (mainly due to incumbents funding a propaganda campaign that "everything is fine here, nothing to see"), that public interest groups had to issue… more

Only a short time after China's magnificent Olympic coming-out party, the land of Mao's successors found itself making less celebratory news.

"Tainted Milk Formula Sickens Thousands of Chinese Infants" read one of many recent headlines. Twenty-two companies that produce or distribute milk powder had been secretly adding melamine, normally used for making plastics and glue, into milk powder, making thousands of infants sick and causing several deaths.

It is one of the puzzling questions about China: How can a country that organized such a splendid Olympic splash be the same country… more

During the Olympics, China showed the world that it can throw a heck of a coming out party. But traveling here afterward, one sees the many complexities and challenges facing this vast and ancient land. 

Especially in the rural areas--where most people still live--the impressive economic rise of China has penetrated only superficially. True, the Communist Party, which still runs nearly everything, brought electricity and other development here in the early 1980s. But while some appliances like television and telephones are increasingly common, indoor plumbing, electric ovens and… more

The rise of other global powers is a profound new reality of today’s world. As headlines remind us nearly everyday, China, India, Russia, as well as the European Union, Japan, and others are rapidly gaining strength and influence. How should the U.S. navigate this new world landscape? Does the rise of these powers represent an ideological challenge or an economic boom? Will global warming convince us we are all in the same boat? The Next World conference will explore… more

"One World, One Dream" -- that's the slogan the Chinese Olympic Committee chose for the 2008 Games in Beijing. But don't let the idealism fool you. This year, beneath the roar of the high-minded sloganeering, you could hear the same twin engines that have powered all modern Olympiads: nationalism and capitalism. While I was in China last week, I noticed that the media were doing the same dance they do in the U.S. They paid lip service to the Olympic ideal -- the… more