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21. The Inevitable Superpower

Author:
Arvind Subramanian
Publication Date:
09-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Is China poised to take over from the United States as the world's leading economy? Yes, judging by its GDP, trade flows, and ability to act as a creditor to the rest of the world. In fact, China's economic dominance will be far greater and come about far sooner than most observers realize.
Topic:
Financial Crisis
Political Geography:
United States and China

22. The Middling Kingdom

Author:
Salvatore Babones
Publication Date:
09-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
By any measure, China's economic growth has been unprecedented, even miraculous. According to the International Monetary Fund, the Chinese economy grew by an average of 9.6 percent per year between 1990 and 2010. At the beginning of the recent global financial crisis, many feared that the Chinese growth engine would grind to a halt. In late 2008, Chinese exports collapsed, triggering fears of political instability and popular revolt in the country. In the end, however, the global economic crisis turned out to be little more than a pothole on the road of China's economic growth. Inflationary pressures may now be building up in China, and China's property bubble may be threatening to burst, but most economists continue to predict rapid growth for the country well into the future. Although their forecasts vary widely, they seem to share the view that China's growth will be fast -- if not as fast as it has been -- and that this rate of growth will continue for decades. These predictions are at once cautious about the near future (China's performance will not be as extraordinary as it has been) and optimistic about the distant future (they see no end to China's upward trajectory). By coincidence or design, they are moderated extrapolations of current trends. For example, the Nobel Prize-winning economist Robert Fogel believes that China will grow at an average annual rate of eight percent until 2040, by which time it will be twice as rich as Europe (in per capita terms) and its share of global GDP will be 40 percent (compared with 14 percent for the United States and five percent for the European Union). Other economists are slightly more cautious: Uri Dadush and Bennett Stancil of the Carnegie Endowment for International Peace predict that China will grow by 5.6 percent per year through 2050.
Topic:
Financial Crisis
Political Geography:
China

23. Is Indonesia Bound for the BRICs?

Author:
Karen Brooks
Publication Date:
11-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Indonesia is in the midst of a yearlong debut on the world stage. This past spring and summer, it hosted a series of high-profile summits, including for the Overseas Private Investment Corporation in May, the World Economic Forum on East Asia the same month, and the Association of Southeast Asian Nations (ASEAN) in July. With each event, Indonesia received broad praise for its leadership and achievements. This coming-out party will culminate in November, when the country hosts the East Asia Summit, which U.S. President Barack Obama and world leaders from 17 other countries will attend. As attention turns to Indonesia, the time is ripe to assess whether Jakarta can live up to all the hype. A little over ten years ago, during the height of the Asian financial crisis, Indonesia looked like a state on the brink of collapse. The rupiah was in a death spiral, protests against President Suharto's regime had turned into riots, and violence had erupted against Indonesia's ethnic Chinese community. The chaos left the country -- the fourth largest in the world, a sprawling archipelago including more than 17,000 islands, 200 million people, and the world's largest Muslim population -- without a clear leader. Today, Indonesia is hailed as a model democracy and is a darling of the international financial community. The Jakarta Stock Exchange has been among the world's top performers in recent years, and some analysts have even called for adding Indonesia to the ranks of the BRIC countries (Brazil, Russia, India, and China). More recent efforts to identify the economic superstars of the future -- Goldman Sachs' "Next 11," PricewaterhouseCoopers' "E-7" (emerging 7), The Economist's "CIVETS" (Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa), and Citigroup's "3G" -- all include Indonesia.
Topic:
Economics and Financial Crisis
Political Geography:
Russia, United States, China, Indonesia, India, East Asia, Brazil, and Island

24. The Sick Man of Asia

Author:
Yanzhong Huang
Publication Date:
11-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Although China has made remarkable economic progress over the past few decades, its citizens' health has not improved as much. Since 1980, the country has achieved an average economic growth rate of ten percent and lifted 400–500 million people out of poverty. Yet Chinese official data suggest that average life expectancy in China rose by only about five years between 1981 and 2009, from roughly 68 years to 73 years. (It had increased by almost 33 years between 1949 and 1980.) In countries that had similar life expectancy levels in 1981 but had slower economic growth thereafter -- Colombia, Malaysia, Mexico, and South Korea, for example -- by 2009 life expectancy had increased by 7–14 years. According to the World Bank, even in Australia, Hong Kong, Japan, and Singapore, which had much higher life expectancy figures than China in 1981, those figures rose by 7–10 years during the same period.
Topic:
Economics
Political Geography:
Japan, China, Malaysia, Asia, South Korea, Colombia, Australia, Mexico, and Hong Kong

25. The Leadership Secrets of Bismarck

Author:
Michael Bernhard
Publication Date:
11-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
China is hardly the first great power to make authoritarian development look attractive. As Jonathan Steinberg's new biography of Bismarck shows, Wilhelmine Germany did it with ease. But can even successful nondemocratic political systems thrive and evolve peacefully over the long run? The answer depends on whether authoritarian elites can tolerate sharing power.
Topic:
Development and Politics
Political Geography:
China, Germany, and Peru

26. Manufacturing Globalization

Author:
Robert Z. Lawrence, Richard Katz, and Michael Spence
Publication Date:
11-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
TROUBLE ON THE HOME FRONT Richard Katz A decade ago, the great American jobs train fell off its tracks. Traditionally, boosts in private-sector employment have accompanied recoveries from economic downturns. In the first seven years after the beginning of the 1980 and 1990 recessions, for example, the number of private-sector jobs increased by 14 percent. Yet in January 2008, seven years after the previous pre-recession peak and before the most recent recession began, private-sector jobs were up only four percent. Today, for the first time in the postwar era, there are fewer of these jobs than there were ten years before. Ignoring the overall dearth of jobs, Michael Spence (“The Impact of Globalization on Income and Unemployment,” July/August 2011) singles out the fraction of employment in sectors related to trade. He claims that China and other developing countries have taken U.S. jobs and blames globalization for the substantial increase in income inequality across the country. It is misleading, he says, to argue that “the most important forces operating on the structure of the U.S. economy are internal, not external.” He is wrong: the fault lies not in China or South Korea but at home.
Topic:
Globalization
Political Geography:
China, America, and South Korea

27. Point of Order

Author:
G. John Ikenberry and Amitai Etzioni
Publication Date:
11-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
CHANGING THE RULES Amitai Etzioni G. John Ikenberry asks whether China will buy into the prevailing liberal, rule-based international order, which has been promoted and underwritten by the United States ("The Future of the Liberal World Order," May/June 2011). With regard to one key element of this order, however -- the Westphalian norm of sovereignty and nonintervention -- he might have inverted the premise. For here, the West has been seeking major modifications that weaken the norm, whereas China has championed the established rule and the international order based on it. Several leading Western progressives have sought to legitimize armed humanitarian intervention, under the rubric of "the responsibility to protect." Others have gone even further, seeking to legitimize interference in the internal affairs of other countries if they develop nuclear arms, invoking "the duty to prevent." Both concepts explicitly make sovereignty conditional on states' conducting themselves in line with new norms that directly conflict with the Westphalian one. The issue, in other words, is not simply whether China will buy into the existing rule-based order but whether it can be persuaded to support the major changes in the rules that the West is seeking.
Political Geography:
United States and China

28. West is Best?

Author:
Timur Kuran
Publication Date:
01-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
A new book by Ian Morris tracks the development of the East and the West over the millennia. But methodological problems lead him to miss the crucial differences between modern and premodern life -- and understate what is really keeping the West ahead.
Topic:
Development, Economics, and History
Political Geography:
China, Europe, and Middle East

29. Getting China to Sanction Iran

Author:
Suzanne Maloney and Erica Downs
Publication Date:
03-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
China, which invests heavily in Iran's energy sector, is the linchpin of the sanctions regime against Iran. If Washington wants to prevent Tehran from acquiring nuclear weapons, it must transform Beijing from a silent, subordinate partner to a vigorous ally.
Topic:
Nuclear Weapons
Political Geography:
China and Iran

30. The Advantages of an Assertive China

Author:
Thomas J. Christensen
Publication Date:
03-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Over the past two years, China's foreign policy has become more belligerent. But Washington should not wish for a weaker Beijing. In fact, on problems from nuclear proliferation to climate change, the United States needs a more confident China as a partner.
Topic:
Foreign Policy and Climate Change
Political Geography:
United States and China