Stephen S. Roach thinks America’s latest financial trouble will reinforce a narrative of terminal national decline.
A boarded up Silicon Valley Bank branch in San Francisco, March 13, 2023. Credit: Jeff Chiu via AP Newsroom
No two crises are alike. That is true of recent financial upheavals – the Asian financial crisis of the late 1990s, the dot-com crisis of 2000, and the global financial crisis of 2008-09. It is also the case with crises sparked by geostrategic shocks, such as wars, pestilence, famine, and pandemics.
Today, we are witnessing a potentially lethal interplay between these two sources of upheaval: a financial crisis, reflected in the failure of Silicon Valley Bank, and a geostrategic crisis, ref
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President Xi Jinping’s anti-corruption campaigns have come full circle in the PLA. First he hunted his predecessors’ appointees. Now his own generals are falling.
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In a special bonus episode recorded live at the Asia Society, host Jane Perlez speaks with journalist and scholar Orville Schell about his 50 years covering Chinese leaders and their American counterparts. They attempt to answer the question: how did we get here?
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