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42. GR&P Seminar: US-China Science Cooperation and Chinese American Scientists in the Trump 2.0 Era
- Author:
- Yasheng Huang, Gang Chen, David Goldston, and Mihaela Papa
- Publication Date:
- 02-2025
- Content Type:
- Video
- Institution:
- MIT Center for International Studies
- Abstract:
- Global Research & Policy Seminar: US-China Science Cooperation and Chinese American Scientists in the Trump 2.0 Era: Tuesday, February 11, 2025. As the new Trump administration shapes its China policies, how is the United States navigating scientific collaboration with China? What are the implications for Chinese American and China-focused scientists? Two Chinese American MIT faculty members and the Director of the MIT Washington Office shared their insights on the opportunities and challenges of advancing scientific progress in the context of an increasingly complex and contested US-China relationship. Speakers: Yasheng Huang, Epoch Foundation Professor of Global Economics and Management, MIT Sloan; Faculty Director MIT-China Program Gang Chen, Carl Richard Soderberg Professor of Power Engineering, MechE; Director, Pappalardo Micro and Nano Engineering Laboratories David Goldston, Director, MIT Washington Office Moderator: Mihaela Papa, Director of Research and Principal Research Scientist, MIT Center for International Studies
- Topic:
- Science and Technology, Bilateral Relations, Donald Trump, and Collaboration
- Political Geography:
- China, Asia, North America, and United States of America
43. Why Did Inflation Rise and Fall So Rapidly? Lessons from the Korean War
- Author:
- Joseph Gagnon and Asher Rose
- Publication Date:
- 01-2025
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics (PIIE)
- Abstract:
- The speed of both the rise and fall of US inflation in 2021–23 took many economists by surprise. This paper shows that the rise of COVID era inflation reflects three independent shocks: a plethora of pandemic-related shifts in demand patterns and supply disruptions; the largest commodity price surge in 40 years caused by the Ukraine war; and strong monetary and fiscal responses to the pandemic, which kept labor markets tight. This paper documents the transmission of these shocks through the main components of private consumption: durable goods, nondurable goods, and services. The rapid fall of inflation reflects the credibility of the Federal Reserve’s commitment to low inflation, something that was not apparent during the inflationary shocks of the 1970s but that was important during the Korean War inflation of 1950–51. Another similarity with the Korean War episode is the temporary surge in demand for durable goods.
- Topic:
- Economy, Inflation, Korean War, COVID-19, and Goods and Services
- Political Geography:
- Asia and South Korea
44. Managing an Aging Society: Learning the Right Lessons from Japan
- Author:
- Jacob Funk Kirkegaard
- Publication Date:
- 04-2025
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics (PIIE)
- Abstract:
- As the world and especially other Asian and European economies enter the accelerated process of aging that Japan experienced from the mid-1990s onwards, learning the right policy lessons from Japan’s response is crucial. This paper argues that, overall, Japan has done relatively well by implementing a response that—even if often belatedly so—has mitigated some of the worst economic effects of aging. Japan has successfully raised domestic labor utilization and immigration levels, integrated its economy more with the rest of the world, and implemented a fiscal policy based on debt expansion that has seen debt costs decline. Other advanced Asian economies and China now face aging processes materially faster than Japan’s and will age simultaneously rather than alone like Japan. In addition, many advanced economies will age during a period of much slower global economic growth and less rather than more global trade and investment opening than what Japan faced from the mid-1990s. These less benign international economic and political circumstances mean that many advanced economies will likely not age with the same relative political and economic stability seen in Japan in the last 30 years. In time, this paper argues, “Japanification” will no longer mean a slowly developing economic disaster but will come to mean competent management of a very difficult economic transition.
- Topic:
- Debt, Demographics, Labor Issues, Immigration, Fiscal Policy, Aging, and Productivity
- Political Geography:
- Japan and Asia
45. The Effects of US-China Cooperation on Fentanyl Markets and Overdose Deaths
- Author:
- Marcus Noland, Julieta Contreras, and Lucas Rengifo-Keller
- Publication Date:
- 05-2025
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics (PIIE)
- Abstract:
- Drug overdose is the leading cause of death among Americans aged 15–44, exceeding heart disease, cancer, suicide, vehicular accidents, and COVID-19 in 2023. Most drug deaths are associated with fentanyl. This paper uses data on illicit drug prices to estimate reduced-form price equations of fentanyl, oxycodone, and alprazolam based on supply and demand, including hedonic characteristics. The results are used to estimate the relationship between fentanyl prices and overdoses. They suggest that the Chinese embargo on fentanyl shipments to the United States beginning in May 2019 raised street prices for a limited period, reducing fentanyl overdose deaths in the United States by roughly one-quarter over a three- to five-month period after the announcement.
- Topic:
- Bilateral Relations, Drugs, Opioid Crisis, Cooperation, and Fentanyl
- Political Geography:
- China, Asia, North America, and United States of America
46. Alignment or Misalignment? US and EU High-Tech Trade and Sanctions Policies toward China
- Author:
- Antonio Calcara and Jeffrey J. Schott
- Publication Date:
- 04-2025
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics (PIIE)
- Abstract:
- This Policy Brief focuses on the alignment or misalignment of the European Union and the United States on high-technology trade and sanctions vis-à-vis China. The Trump administration is likely to continue the aggressive US stance toward China in the technological realm, putting increasing pressure on its European allies to align with US policy. The Europeans, for their part, are in a difficult position: On the one hand, they are under pressure from the US government; on the other hand, the more Washington restricts Chinese trade, the more Chinese exporters will look to the European market to sell their manufactured goods. Increased competition from Chinese imports in Europe, especially in the automotive sector, could in turn trigger a political backlash that weakens support for transatlantic coordination on China.
- Topic:
- Science and Technology, Sanctions, European Union, Trade Policy, and Imports
- Political Geography:
- China, Asia, United States of America, and European Union
47. Significant, but Not Systemic: The Challenge of China’s Efforts to Rival Western Financial Predominance
- Author:
- Martin Chorzempa and Lukas Spielberger
- Publication Date:
- 05-2025
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics (PIIE)
- Abstract:
- Despite worldwide concerns about the US dollar, the Chinese renminbi is not yet ready to be a serious contender for leading international currency status. This Policy Brief examines three of the most important Chinese approaches to increasing the renminbi’s role as an international settlement currency: promote bilateral swap agreements between the People's Bank of China and other central banks; create international payment systems that do not involve the dollar, most notably the Cross-Border Interbank Payment System; and develop a central bank digital currency for alternative payment infrastructures. The authors find that Beijing’s efforts fall short of posing a systemic challenge to the dollar or to infrastructures like SWIFT. Nevertheless, these approaches have enabled China to use its currency for bilateral foreign policy. US and European policymakers should consider countering or attenuating these efforts, even though they have had limited success in increasing renminbi usage.
- Topic:
- Foreign Policy, Central Bank, Currency, Digital Currency, and SWIFT
- Political Geography:
- China and Asia
48. North Korea, Russia, and China: Past Cooperation & Future Prospects
- Author:
- Sydney Seiler
- Publication Date:
- 06-2025
- Content Type:
- Special Report
- Institution:
- Korea Economic Institute of America (KEI)
- Abstract:
- Syd Seiler argues that recent developments in the relationship between North Korea, China, and Russia should be examined within the context of past interactions and North Korea’s geopolitical reality over the past several decades. North Korea’s pursuit of a distanced approach toward China and the Soviet Union during the Cold War, its post-Cold War management of the bilateral relationships while developing nuclear weapons, and contemporary developments within the North Korea-China-Russia triangle highlight limited shared interests and few signs of deliberate trilateralism. Despite skepticism regarding the durability of trilateralism, Seiler warns against neglecting the threat of collaboration and cooperation among the three countries. In particular, the evolving relationship between North Korea, China, and Russia holds the potential to harm the existing balance of power on the Korean Peninsula and embolden North Korea to believe that the use of force might be justified within the New Cold War structure. Seiler outlines three scenarios in which the evolution of trilateralism could lead to North Korea employing military force on the Korean Peninsula, highlighting the critical role of China and Russia in either restraining or encouraging North Korean revisionism. To properly respond to the dangerous transformation of the geopolitical environment, Seiler recommends the United States, South Korea, and like-minded states reinforce conventional and extended deterrence by convincing China and Russia that they will incur high costs for enabling North Korea’s coercive and revisionist behavior.
- Topic:
- Security, International Cooperation, Nuclear Weapons, Geopolitics, and Regional Politics
- Political Geography:
- Russia, China, Eurasia, Asia, and North Korea
49. Siloed No More: The U.S.-ROK Alliance and a Taiwan Conflict
- Author:
- Clint Work
- Publication Date:
- 03-2025
- Content Type:
- Special Report
- Institution:
- Korea Economic Institute of America (KEI)
- Abstract:
- This project was motivated by and builds upon earlier research tracing the evolution and apparent alignment of U.S. and South Korean signaling on Taiwan, wherein the South Korean government adopted a more outspoken position regarding “the importance of peace and stability in the Taiwan Strait” and framed it in increasingly expansive terms—as a regional and global issue yet also directly linked to the peace and stability of the Korean Peninsula. The previous research indicated the U.S.-ROK alliance faced a gap between its topline diplomatic rhetoric on Taiwan and its preparedness to navigate an actual conflict between the United States and China over Taiwan and the attendant risk of a simultaneous conflict on the Korean Peninsula. This project aimed to go beyond diplomatic rhetoric. Forty-two interviews were conducted from June 2024 to February 2025 in both Washington and Seoul. Most were in-person interviews with some conducted virtually or by written response via email. Through these interviews with U.S. and ROK current and former government officials, think tank experts, and academics—as well as open-source research—this project offers insight on the evolution and state of U.S.-ROK alliance discussions on a Taiwan conflict, key challenges obstructing such discussions, and critical variables or dynamics the alliance would have to navigate in the event of a conflict.
- Topic:
- Security, Alliance, Conflict, and Regional Security
- Political Geography:
- Taiwan, Asia, South Korea, and United States of America
50. Why democracies stick together: The theory and empirics behind alliance formation
- Author:
- Markus Jaeger
- Publication Date:
- 03-2025
- Content Type:
- Special Report
- Institution:
- Atlantic Council
- Abstract:
- Domestic regime type affects both inter-state conflict and alliance formation. Democratic peace theory posits that democracies do not go to war with one another, while democratic alliance theory suggests that they rarely, if ever, join nondemocratic alliances (or alliances led by nondemocratic powers). Empirical evidence strongly supports both theories. The Atlantic Council’s Freedom and Prosperity Indexes further reinforces the hypothesis that economically prosperous democracies tend to align with one another, whereas authoritarian states gravitate toward similarly nondemocratic and less prosperous partners. If these theories hold, they carry significant implications for Western and especially US foreign policy. First, global democratization would reduce the number of potential conflicts, at least among an increasing number of democracies. Second, it would expand the pool of democratic alliance partners, while at the same limiting the alliance options available to nondemocratic powers. This strategic logic underscores the importance of upholding democratic norms abroad and promoting democratization in nondemocratic states. However, advocating for democratization of nondemocratic great powers will be perceived as both a geopolitical and domestic political challenge aimed at weakening their international position and threatening their governments’ domestic grip on power. Efforts to democratize nondemocratic great-power like Russia and China therefore provoke intense countermeasures. If such a strategy is deemed to be too high risk or too difficult to pursue successfully, a less provocative, “peripheral” strategy may focus on fostering democracy and economic development in authoritarian regimes’ weaker, less prosperous partners, thereby depriving them of potential allies.
- Topic:
- NATO, Diplomacy, Politics, Democracy, and Alliance
- Political Geography:
- Russia, China, and Asia
51. How China sees the future and what it means for NATO
- Author:
- Alice Politi
- Publication Date:
- 03-2025
- Content Type:
- Special Report
- Institution:
- NATO Defense College
- Abstract:
- China’s military expansion and its geopolitical ambitions, especially in the Indo-Pacifi c macro-area, potentially present growing challenges for NATO. Offi cial documents show that the reunifi cation with Taiwan plays a critical role in China’s 2049 “Great Rejuvenation” goals. However, China’s military capabilities are still too limited to allow for an intervention in Taiwan in the short term. Despite China’s rapid progress in outer space and military sectors, internal challenges such as slowing economic growth and demographic issues raise doubts about its ability to achieve long-term ambitions.
- Topic:
- NATO, Geopolitics, Strategic Competition, and Military
- Political Geography:
- China, Taiwan, Asia, and Indo-Pacific
52. Friends with benefits: Assessing Russian-Chinese military exercises
- Author:
- Narantsatsral Enkhbat
- Publication Date:
- 06-2025
- Content Type:
- Special Report
- Institution:
- NATO Defense College
- Abstract:
- China-Russia joint strategic air patrols and naval manoeuvres near U.S. territory in the Pacifi c have become a growing trend, serving as geopolitical messaging. China is likely to become more involved in maritime security and power projection in the Arctic, as evidenced by its Coast Guard’s manoeuvres with Russia in the Northern Pacifi c. Russia conducts military drills and manoeuvres with China in the South China Sea (and potentially in the Taiwan Strait) to show support to China on territorial issues.
- Topic:
- Security, NATO, Geopolitics, Navy, Maritime, and Military Exercises
- Political Geography:
- Russia, China, Eurasia, Taiwan, Asia, and Indo-Pacific
53. Climate Change, Vulnerable Groups, and Data-Driven Policymaking
- Author:
- Selahattin Selsah Pasali
- Publication Date:
- 04-2025
- Content Type:
- Journal Article
- Journal:
- Baku Dialogues
- Institution:
- ADA University
- Abstract:
- More than four in five people in Asia and the Pacific reportedly face multi‑hazard risks associated with slow or sudden onset climate events, according to the latest Asia‑Pacific Disaster Report published by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). Many existing hotspots of climate‑related multi‑hazards are forecast to intensify. Individuals residing in these hotspots, often already low‑income and with limited access to basic services and infrastructure, will likely be exposed to more frequent and intense sudden‑ and slow‑onset natural disasters. Noteworthy is the assessment that migrants, refugees, internally displaced persons (IDPs), and stateless persons residing in many parts of these vast geographic areas reportedly face even more daunting challenges in this category, due to their vulnerable legal status, limited coping capacity, and access to basic services and opportunities.
- Topic:
- Climate Change, Inequality, Displacement, and Vulnerability
- Political Geography:
- Asia
54. The New Geopolitical Scramble for Corridors
- Author:
- Velina Tchakarova
- Publication Date:
- 01-2025
- Content Type:
- Journal Article
- Journal:
- Baku Dialogues
- Institution:
- ADA University
- Abstract:
- The geopolitical landscape in winter 2024- 2025 is marked by significant transformation, uncertainty, and fierce competition for influence. The geopolitical hotspots of this new contest are most visible in the regions that bridge Europe and Asia—what the editors of Baku Dialogues call the “Silk Road region.” Central to this dynamic is the growing intersection of interests between major regional players against the backdrop of a Cold War 2.0, putting the West against what I was the first to call the “DragonBear” alliance of China and Russia. These corridors are not just infrastructural undertakings; they are the arteries of global power, trade, and connectivity, reflecting deeper geopolitical ambitions and contestations. This extensive analysis elaborates on today’s most significant connectivity projects, exploring their strategic implications and the new power dynamics they are fostering. In the traditional sense, empires have always relied on transport and trade corridors to project power and expand influence. From the ancient Silk Roads to the West’s colonial sea routes, the ability to control the flow of goods and resources has often equated to geopolitical dominance. Today, this principle remains unchanged, though the scale and stakes have reached unprecedented levels.
- Topic:
- Geopolitics, Belt and Road Initiative (BRI), Trade, and International Competition
- Political Geography:
- China, Europe, Central Asia, and Asia
55. Back to the Future: The Rise of Militarization in China in the 2020s
- Author:
- Tai Ming Cheung
- Publication Date:
- 05-2025
- Content Type:
- Policy Brief
- Institution:
- University of California Institute on Global Conflict and Cooperation (IGCC)
- Abstract:
- In this policy brief, IGCC director Tai Ming Cheung analyzes Chinese militarization efforts as the country seeks tighter integration of the civilian and defense economies and a strong sense of national security, and whether such efforts lead to China being more prone to going to war in the near future.
- Topic:
- Defense Policy, National Security, Economy, and Militarization
- Political Geography:
- China and Asia
56. Friends and Foes in the Indo-Pacific: Multilateralism Out, Minilateralism In?
- Author:
- Axel Berkofsky and Guido Alberto Casanova
- Publication Date:
- 03-2025
- Content Type:
- Special Report
- Institution:
- Italian Institute for International Political Studies (ISPI)
- Abstract:
- Minilateralism is already among us, and it is here to stay. The well-known shortcomings of the multilateral system of governance are pushing individual states in the Indo-Pacific to come up with new and different solutions to deal with the security and prosperity issues that current institutions are unable to tackle. Amid growing geopolitical rivalries and the uncertainty provoked by the re-election of Donald Trump, this report aims to shed some clarity on an emerging trend that is already affecting the foreign policy of great powers in a region that is central to global affairs.
- Topic:
- Security, Alliance, Multilateralism, Institutions, and Cooperation
- Political Geography:
- Russia, Japan, India, Asia, North Korea, Philippines, United States of America, and Indo-Pacific
57. Radical novelties in critical technologies and spillovers: how do China, the US and the EU fare?
- Author:
- Alicia Garcia-Herrero, Michal Krystyanczuk, and Robin Schindowski
- Publication Date:
- 05-2025
- Content Type:
- Working Paper
- Institution:
- Bruegel
- Abstract:
- Critical technologies including artificial intelligence, semiconductors and quantum computing are attracting attention because of their indispensable nature and their role in national security strategies. We compare China, the United States and the European Union in these technologies and their subfields. We use large language models (LLMs) to identify which patents in these technologies can be considered most groundbreaking (not patented before) and worth replicating. These are ‘radical novelties.’ We find that the US clearly dominates quantum. Chinese and EU progress is similar. The US does slightly better than China in AI with clear dominance in generative AI, but China stands out in some important subfields, such as aerial vehicle technology. China dominates in a larger number of semiconductor fields but not in the highest value added, which is related to design. In a second step we assess how quickly radical novelties in these three technologies are transferred from one economic area to another and within each economic area. We find that the fastest transmission overall is for AI. The EU is by far the slowest in replicating radical novelties from the US and China, while the US and China tend to replicate European novel patents relatively quickly. Radical novelties are also replicated quickly between China and the US which is surprising given US controls on exports of critical technologies to China. Our findings are concerning for Europe because it does not produce enough critical patents in these technologies and because it is slower in replicating patents from the US and China.
- Topic:
- Science and Technology, Economy, Trade, and Artificial Intelligence
- Political Geography:
- China, Asia, and United States of America
58. Which companies are ahead in frontier innovation on critical technologies? Comparing China, the European Union and the United States
- Author:
- Alicia Garcia-Herrero, Michal Krystyanczuk, and Robin Schindowski
- Publication Date:
- 05-2025
- Content Type:
- Working Paper
- Institution:
- Bruegel
- Abstract:
- Competition in critical technologies is attracting increasing attention not only because of the foundational nature of these technologies for other types of innovation, but also because of their role in the United States national security strategy. In this paper, we look into which entities in China, the European Union and the US innovate at the technology frontier in the three most important critical technologies – artificial intelligence, quantum computing and semiconductors – based on identification of the most radical novel patents in these technologies and their subsectors. Working with these pathbreaking patents, we look into the origin of the companies that file the largest numbers of them. US innovators dominate the innovation frontier for quantum computing and, to a lesser extent, AI, with Chinese innovators doing better in semiconductors. European innovators lag in all, but perform relatively better in quantum computing, in which they rank similarly to Chinese innovators. Furthermore, the innovation ecosystem is quite different across geographies. In the US, tech companies top the rankings of critical novelties and are highly concentrated: as many as three companies are in the top rankings of all of the three critical technologies. Frontier innovators in the field in which the EU competes most equally – quantum – are mostly research centres and not companies. China lies somewhat in between in all three domains.
- Topic:
- Science and Technology, European Union, Innovation, Artificial Intelligence, Semiconductors, and Quantum Computing
- Political Geography:
- China, Europe, Asia, and United States of America
59. India-China rapprochement: what are the long-term prospects?
- Author:
- Nayanima Basu and Alicia Garcia-Herrero
- Publication Date:
- 05-2025
- Content Type:
- Working Paper
- Institution:
- Bruegel
- Abstract:
- China-India relations, which have long been fraught, were further complicated by the 2020 military standoff on the Himalayan border. The political disruption had a significant impact on Chinese companies’ presence in India. And yet, India’s dependence on Chinese imports has increased since. The Indian economy is decelerating at a challenging time for Prime Minister Modi, who governs in a coalition. China could offer a partial solution to India’s economic woes by providing manufacturing FDI and creating jobs. The Modi-Xi ‘rapprochement’ after their encounter at the October 2024 BRICS summit signals that relations could improve. India may be willing to accept targeted investment from China, but relations are unlikely to fully normalise, particularly since the 2025 India-Pakistan military stand-off. There are three main reasons for this. First, the Indian army remains cautious about the situation at the border and security risks relating to China. Second, the United States under President Trump will exert pressure on Modi not to depend further on China. This is even more relevant in the context of Trump’s threat to impose tariffs on India. Third, Indian public opinion on China and the Belt and Road Initiative remains negative. India is predicted to experience greater growth than China in the coming decades, meaning China could lose its upper hand in economic relations between the two countries. This, however, will depend on how dependent India might have become on China for imports or for jobs through FDI and other channels. The militarised border, India’s asymmetric economic dependence on China and China’s leadership in the Global South will still shape the relationship even if the Indian economy grows to a similar size to China’s. India-China ‘rapprochement’ is possible but will remain fragile and unlikely to be maintained in the long run.
- Topic:
- Bilateral Relations, Governance, Economy, Economic Growth, Investment, and Trade
- Political Geography:
- China, India, and Asia
60. Will China’s economy follow the same path as Japan’s?
- Author:
- Alicia Garcia-Herrero and Jianwei Xu
- Publication Date:
- 02-2025
- Content Type:
- Policy Brief
- Institution:
- Bruegel
- Abstract:
- Since the bursting of China’s real-estate bubble in mid-2021, there has been a growing concern that the Chinese economy could end up like that of Japan in the early 1990s. Some structural patterns are strikingly similar: low private consumption over a long period, especially when compared to the rest of the world, and an excessively high savings ratio, though China’s imbalances now are even larger that Japan’s were then. Initial policy responses to the bursting of their respective bubbles have also been similar. Both China now and Japan then were initially hesitant to ease monetary and fiscal policies, and opted to expand manufacturing, with an eye on external demand, supported by more research and development expenditure. In both cases, the outcomes were stubborn trade surpluses and a mercantilist attitude to their growth problems, leading to the United States taking protectionist measures. China also seems to be following Japan’s offshoring of production to mitigate the impact of protectionism. The main difference, though, is that China now is a poorer country than Japan was then, with still more convergence opportunities ahead. China is also a much bigger military and geopolitical contender than Japan ever was. China’s geopolitical weight is behind the US technological containment of China, but also gives China more room for manoeuvre globally, especially in the Global South. It remains unclear – though globally significant – whether China will be able to deviate from the path followed by Japan in the 1980s and 1990s.
- Topic:
- Industrial Policy, Geopolitics, Economy, Economic Growth, Innovation, and Real Estate
- Political Geography:
- Japan, China, and Asia