For decades, various Chinese officials and outsiders have reassured the world that the country’s Communist Party leadership eventually planned to open up its one-party political system. The regime would undertake major political reforms and liberalization, it was said, to accompany the economic reforms launched by Deng Xiaoping in the late ’70s. It was merely a question of choosing the right time. Writing in Foreign Affairs two years ago, John L.
This past summer, National Economic Council Director Larry Summers laid out a new vision for the next American economy: one that is export-oriented, low-carbon, innovation-fueled, and opportunity-rich. Dr. Summers mentioned the export goal at the December job summit export session and President Obama made it clear in his State of the Union this year:
“We will double our exports over the next five years, an increase that will support two million jobs in America. To help meet this goal, we're launching a National Export Initiative that will help farmers and small businesses increase their exports, and reform export controls consistent with national security.”
Following on this commitment, the president launched the National Export Initiative last week at the Export-Import Bank’s annual conference. This is a rather typical export promotion policy, focused on increased trade financing, advocacy, and assistance for American businesses, especially small- and medium-sized businesses interested in expanding their markets abroad. The promotion of services exports is a new addition, reflecting the increased importance of service exports in U.S. trade.
Analysts are still mulling over the Copenhagen accord, trying to figure out what it means for the fate of global climate politics. The humdrum answer is that it all depends—we'll have to see how individual nations tackle their CO2 emissions in the months and years ahead, and then watch how the next round of international talks shake out. But if it's specifics you want, check out Harvard economist Robert Stavin's analysis. First, a recap of the negotiations that led to the deal:
It looks like, at the very last minute, the heads of state at Copenhagen pulled a rabbit out of the ol' cap and struck a deal—but it's a mangy-looking rabbit at that. Here's the Wall Street Journal:
It’s now widely believed that the global recession is coming to an end, but the path out has been far from typical: This time around, China, not the U.S. has led the global recovery. With its $600 billion stimulus package and with banks lending with abandon, China has become the engine of global manufacturing and industrial activity.
The annals of Sino-American relations have seen more than a few celebrity-diplomats: Henry Kissinger, a young Richard Holbrooke, and, of course, the current secretary of state. But, unless the record has been lost to history, none has ascended to this rarefied plane of geopolitics while running the Office of Management and Budget.
And yet, there was budget director Peter Orszag rushing to a lunch with Chinese bureaucrats on a Monday in late July. To his surprise, when Orszag arrived at the site of the annual U.S.-China Strategic and Economic Dialogue (S&ED), the Chinese didn't dwell on the Wall Street meltdown or the global recession. The bureaucrats at his table mostly wanted to know about health care reform, which Orszag has helped shepherd. "They were intrigued by the most recent legislative developments," Orszag says. "It was like, 'You're fresh from the field, what can you tell us?' "
