President of the Hong Kong Institution for International Finance
May 08, 2021
Last week, the world marked the 51st Earth Day. This year’s theme – “Restore Our Earth” – was apt. As the COVID-19 pandemic has reminded us, the effects of human activity on the planet do not respect borders. The Earth is a single living, self-regulating system, and it demands a single, shared system of accounting that balances at the global level. We need a one-Earth balance sheet.
Mar 26, 2021
The OECD is projecting an uneven K-shaped economic recovery from the pandemic in 2021. Richer countries with more extensive vaccine rollouts that can afford to reopen and reflate their economies will do so. Poorer economies will struggle to stay healthy and avoid debt crises. But the mantra that “no one is safe until everyone is” highlights the need to spread health, wealth, and self-respect to all. An increasingly prosperous China can and should play a central role in this effort.
Mar 10, 2021
China is a tough country to comprehend – even for most Chinese. But much of what makes China enigmatic – its long history, vast and varied territory, huge and diverse population, complex politics, and massive, dynamic economy – also makes understanding the country important. For better or worse, what happens in China affects everyone.
Jan 06, 2021
As the United States prepares for a radical course-correction on climate change, China is raising its game. Climate action has become yet another front in the competition between the world’s two largest economies. Who will cross the net-zero-emissions finish line first?
Nov 30, 2020
Americans don’t agree on much of anything nowadays. Yet they are largely united in their belief that China represents an existential challenge to their country and the international order it has long led. This combination of internal division and external demonization has made the Sino-American rivalry increasingly inescapable – and potentially catastrophic.
Oct 09, 2020
China’s leaders are currently putting the finishing touches on the country’s 14th Five-Year Plan, which will cover the 2021-25 period. But one aspect of the plan – the so-called dual-circulation strategy – is already attracting the world’s attention. Many fear that China is “turning inward” just when the global economy is staring down the barrel of a recession. These fears are misplaced.
Aug 03, 2020
By disrupting the world’s interconnected economic, social, and geopolitical spheres, the COVID-19 crisis has exposed just how fragile and inequitable the institutions that govern them really are. It has also highlighted how difficult it is to address systemic fragility and inequity amid escalating national-security threats.
Jul 02, 2020
Despite former US National Security Adviser John Bolton’s juicy revelations about Trump’s conduct of foreign policy, his book does little to answer the fundamental question facing the US: Is its current foreign-policy muddle Trump’s fault, or the result of something deeper and more structural?
Feb 29, 2020
Last October, the 2019 Global Health Security Report included a stark warning: “National health security is fundamentally weak around the world. No country is fully prepared for epidemics or pandemics, and every country has important gaps to address.” Just a couple of months later, a new coronavirus emerged in Wuhan, China – and quickly demonstrated the accuracy of the report’s assessment.
Jan 07, 2020
In recent years, fears of a new cold war between the United States and China have been proliferating. But the tensions between the two powers would be better described as a “cool war,” characterized not by old-fashioned spheres of interest, proxy wars, and the threat of “mutually assured destruction,” but by an unprecedented combination of wide-ranging competition and deep interconnection.