CHINAMacroReporter

Part One | 'Biden’s Opening Salvo on Beijing'

Biden Shows his Hand on China

‘The Biden administration is less than a week old, but its most consequential foreign-policy decisions may already be behind it.’
by

Walter Russell Mead | Bard College

|

The Wall Street Journal

January 27, 2021
Part One | 'Biden’s Opening Salvo on Beijing'

‘The Biden administration is less than a week old, but its most consequential foreign-policy decisions may already be behind it.’

‘The Biden administration is less than a week old, but its most consequential foreign-policy decisions may already be behind it.’

  • ‘Initiating his China policy with the most aggressive concatenation of moves against a foreign power that any peacetime U.S. administration has ever launched so early on, President Biden has thrown down a gauntlet that Beijing is unlikely to ignore.’

‘Besides issuing a formal invitation to Taiwan’s top Washington representative to attend the inauguration (the first such invitation since the U.S. established formal relations with Beijing in 1979), the incoming team has pledged to continue arms sales to Taiwan and indicated that it wants to delay high-level U.S.-China talks until it consults with close allies—a stand that China will interpret as a rebuff.’

  • ‘As if this weren’t enough, Secretary of State-designate Antony Blinken announced that he concurs with his predecessor Mike Pompeo’s finding that China is engaged in a genocide against its mostly Muslim Uighur minority in Xinjiang province.’
  • ‘Taken with the previously planned dispatch of a naval strike group to the South China Sea, it all amounts to a stern message to Beijing.’

‘These moves must be troubling for those who hoped that Mr. Biden would “prioritise global issues over great power competition,” as Anne-Marie Slaughter, who served as the State Department director of policy planning during the Obama administration, put it in a recent op-ed for the Financial Times.’

‘It’s not entirely clear how coordinated the new measures are.’

  • ‘The late designation of Chinese behavior as genocide by the Trump-era State Department in particular put Mr. Biden in a difficult spot.’
  • ‘He had called the repression of the Uighurs a genocide on the campaign trail, but stump-speech rhetoric has no legal force.’
  • ‘Once the State Department weighed in officially, Mr. Biden couldn’t walk back a designation he was on record as endorsing without looking weak.’

‘It remains to be seen whether the administration will attempt to tone down the strong message sent by its early actions.’

  • ‘The combination of the hard line on Taiwan and the genocide designation could be the foundation of a policy mix that is significantly more provocative than even some China hawks in the new administration wanted—and far more hawkish than the human-rights advocates supporting the genocide designation understood.’
March 9, 2017
So many twists and turns to the China Housing markets story
[CHINADebate Presentation] One of the highlights in our recent 'In Pursuit of Patterns' series of client notes, showed that the land sales growth had tended to lead the price growth and a significant increase in land sales would lead, with a lag, to the subsequent correction in prices.—Almost everyone on the outside seems to have missed the biggest bull market in China housing in 2016, culminating in policy tightening cycle kicking in at the end of the year. But what's next?
keep reading
February 27, 2017
Is The U.S. Ceding Global Leadership To China?
'China isn't positioned to replace the U.S. as a global leader anytime soon.'—Hard on President Trump's 'American First' inaugural address, Xi Jinping gave a rousing paean to globalism at the World Economic Forum. And, immediately the hot question became: 'Is the U.S. ceding global leadership to China?' Yes and no, says Bill Overholt of the Harvard Asia Center. Yes, the U.S. is ceding global leadership. No, China won’t replace the U.S. What will replace the U.S. is ‘G-Zero’, a world with no single global leader. Not China, not the U.S. So, can his critics lay this outcome at President Trump’s feet?
keep reading
February 15, 2017
C-to-C Internet Commerce- From Taobao Shops to Taobao Villages
One is some of the local government-owned SOEs are the sources for overcapacity. The reason is because the local government also wants to ensure there's some degree of employment locally, and perhaps some source of taxation. The Chinese government is now going to need to start the so-called supply-side economics to try to consolidate overcapacity in a number of sectors. It's going to impinge on the interests of many of these local SOEs as well as the local governments who own them.
keep reading
February 15, 2017
How SOEs & Local Governments Create Overcapacity
One is some of the local government-owned SOEs are the sources for overcapacity. The reason is because the local government also wants to ensure there's some degree of employment locally, and perhaps some source of taxation. The Chinese government is now going to need to start the so-called supply-side economics to try to consolidate overcapacity in a number of sectors. It's going to impinge on the interests of many of these local SOEs as well as the local governments who own them.
keep reading
February 15, 2017
Why SOE Reform is So Tough
'...SOEs need to reform, because on one hand, many of them have achieved a lot for China. On the other hand, they've actually created quite a lot of harm, in particular in the areas of overcapacity but also in the areas of corruption we've talked about.'
keep reading
February 2, 2017
AmCham China Chairmen's View From China in D.C. 2017
[AmCham China & CHINADebate U.S.—China Trade/Business Series 2017] Terrific insights from leaders on the ground in China. While in D.C. the Chairmen joined us in a panel discussion and individual interviews about U.S. business in China, U.S.-China relations, trade, and much more. We present their views in a 13 part series. Sheryl WuDunn, business executive, lecturer, best-selling author, and winner of the Pulitzer Prize moderated.
keep reading
February 1, 2017
'Chinese Politics In The Xi Jinping Era'
[Malcolm Riddell Interviewed Cheng Li] 'If you ask any taxi driver in Beijing, Shanghai, or Guangzhou, he or she will tell you – with accuracy – which leader belongs to which faction. : 'China is a one–party state, but that does not necessarily mean Chinese leadership is a monolithic group with leaders who have the same ideas, same background, same world views, same politics. No, they're divided.'
keep reading
December 7, 2016
First 100 Days: Do Not Provoke China
The First 100 Days interview series features Pacific Council experts addressing the top foreign policy issues facing the incoming Trump administration.: Warns of the potential for new conflicts if Donald Trump follows through with his campaign promises regarding China.
keep reading
October 18, 2016
How Alibaba, Xiaomi, & Tencent are Changing the Rules of Business
[An Interview of Ed Tse, the author of 'China's Disruptors: Alibaba, Xiaomi, & Tencent... how innovative 'Disruptor' companies are restructuring China's economy.' ] The real force in Chinese economy is increasingly private companies, not SOEs. / Leading private Chinese companies are innovative and ambitious
keep reading
July 14, 2016
How 'Brexit' Will Impact China's Economy
David Dollar gives you fresh insights to better incorporate Brexit's impact into your analyses of China and global economies & markets, including: 1. Why, after the Brexit vote, did the Shanghai Stock Market fall only 1%? 2. How will Brexit affect the value of the RMB and China's currency policy? 3. How will Brexit impact trade with the EU, China’s largest trading partner? 4. Why, in the larger geopolitical perspective, could China be the big winner from Brexit?
keep reading
July 2, 2016
China housing: boom, bust, or bubble-or...?
100s of Cities Bubble Up & Down As Policy Makers Press the Levers China hasn’t collapsed. And, the bubble hasn’t burst because there may not be just one big real estate bubble. Instead, there are 100s of sizable cities, each moving in its own cycle, each responding to how its local policymakers stimulate & tighten-stimulate & tighten, and each having performance divergent from that of other cities. Watch here to see how city-level markets bubble up and bubble down...
keep reading

More

CHINAMacroReporter

June 24, 2021
Bitcoin’s growing energy problem: ‘It’s a dirty currency'
“Bitcoin alone consumes as much electricity as a medium-sized European country.”
keep reading
June 24, 2021
'China steps up crackdown on bitcoin mining industry'
‘China’s latest intervention places further pressure on what was once one of the world’s most vibrant markets for trading and mining digital currencies.’ ‘It comes at a time when many governments are scrutinising the industry’s effect on the environment and determining the types of financial oversight that should be applied to cryptocurrencies.’
keep reading
June 24, 2021
'Congress on China: Then and Now'
‘With the Senate voting on June 8, 2021, to adopt the United States Innovation and Competitiveness Act, it is safe to say that this is the most comprehensive action by Congress on China policy EVER.’ ‘The language of the United States Innovation and Competitiveness Act is about a long-term competition with China as opposed to war with an enemy.’
keep reading