Apparently, social stability imperatives aren’t what they used to be in China.
Russia’s invasion of Ukraine is in clear violation of principles that China has held sacrosanct for almost 60 years.
Fifty years ago, America and China isolated the former Soviet Union at a time when its economic foundation was starting to crumble. Today, America is the one being triangulated.
A longtime China optimist fears the recent tech crackdowns represent a tipping point.
Balance-of-payments deficits, not the so-called China problem, are the macroeconomic source of America’s overall trade deficit.