A global economy in which China and the G7 follow separate, non-converging paths will leave both sides worse off.
The Asian Infrastructure Investment Bank First Annual Meeting in Beijing, June 2016. Credit: UNIDO via Flickr
The world order is at risk of a lasting split, with the United States and its allies on one side, and China and its partners on the other. As US Treasury Secretary Janet Yellen noted at an Atlantic Council event last month, this outcome is far from desirable, and the US must work with China to prevent it. But, practically in her next breath, Yellen advocated actions that could thwart such an effort.
In Yellen’s view, the US should be deepening ties with countries that have “stro
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