China, America, and a New World Order

     

The global financial crisis has telescoped shifts in the world order, especially for a rising China.
For many years, the major strategic question regarding China has been whether, as it grows in economic, political, and military might, it will embrace the post–World War II order: the treaties, multilateral institutions, and norms developed largely with United States leadership. The answer is no. China will not adapt to the existing global
That is the conclusion I draw from a recent trip to Beijing and meetings with people in the highest levels of the Chinese Communist Party and government. For them, this is not an irrational approach to transacting affairs on the world stage. For us, this presents numerous challenges that might imperil our own interests.
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To Peg or Not to Peg? When will China revalue it's currency?

When a 10-ton elephant plods through a village of grass huts, the big question on everyone’s mind is: which way is he going to turn next? With China, that fundamental question translates to guessing when Beijing will make changes to the value of the yuan. These decisions will determine the overall direction of the global economy, and will set the path that everyone must follow. Unfortunately, no Americans, even those who travel hat-in-hand to China, have a seat at the table where these decisions are being made.

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HOW CHINA WILL CHANGE THE CARS AMERICA DRIVES

The U.S. will never again be the world's largest and most important automobile market. Ever.

With total new vehicle sales of 13.6 million units, China last year passed the U.S. as the world's largest auto market. And while the American vehicle market this year is crawling unsteadily out of recession, China's is exploding: Wale expects total volume to reach 15 to 16 million units this year, though with the first quarter sales topping 4.6 million units, it could easily do better than that. A couple of years back, after visiting the Beijing Show for the first time, I wrote the center of gravity of the world's auto industry was shifting away from the U.S. and toward China. Today, that shift is complete:
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