On transnational issues like Covid-19 and climate change, power should be a positive-sum game.
U.S. President Donald Trump and Chinese President Xi Jinping at the G20 Summit in 2017. Credit: Official White House Photo by Shealah Craighead
CAMBRIDGE – Covid-19 is confronting humanity with its most severe test since 1918, when an influenza pandemic killed more people than died in World War I. Yet the top leaders of the world’s two largest economies, China and the United States, have failed the first round.
The initial reaction of both Chinese President Xi Jinping and U.S. President Donald Trump was denial. Crucial time for testing and containment was wasted, and opportunities for international cooperation were squandered.
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How did the late premier convince local governments to surrender fiscal revenues to Beijing? In an extract from his recent book, Authoritarian Markets, Adam Y. Liu explains how Zhu played his trump card — letting local governments set up their own banks.
The academic and former U.S. ambassador to Russia talks about the contrasts between Putin and Xi, and what Washington can do about their relationship with each other.
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