Economics & Global Affairs

438 Items

President Joe Biden meets virtually with Chinese President Xi Jinping from the Roosevelt Room of the White House in Washington, Monday, Nov. 15, 2021.

AP Photo/Susan Walsh

- Belfer Center for Science and International Affairs, Harvard Kennedy School

The U.S.-China Future: Competition and Collaboration With a Rising China

| Fall 2021

Whether they regard it as competitive, cooperative, or confrontational, virtually all observers agree that the U.S.-China relationship is consequential. From cyber norms and AI to military tensions in the Taiwan Strait and the global struggle to turn the tide on climate change, how Washington and Beijing manage their shared future will shape the globe for decades to come. Through research and relationship-building, the Center is dedicated to helping the U.S. and China collaborate and compete without conflict.

Xie Zhenhua, China's Special Envoy for Climate Change, is seen on big screens as he speaks

AP/Ng Han Guan

Analysis & Opinions - Project Syndicate

The Logic of US-China Competition

| May 06, 2021

The success of U.S. President Joe Biden's China policy will depend on whether the two powers can cooperate in producing global public goods, while competing in other areas. The U.S.-China relationship is a "cooperative rivalry," in which the terms of competition will require equal attention to both sides of the oxymoron.  Joseph Nye argues that it will not be easy.

woman wearing a face mask to help curb the spread of the coronavirus sits near a screen showing China and U.S. flags

AP/Andy Wong, File

Journal Article - Journal of Applied History

Globalization, Geopolitics, and the U.S.–China Rivalry after Covid-19

| 2021

 This article argues and seeks to demonstrate that "global history," with its roots in the study of empires and transnational integration, provides a useful intellectual framework for better understanding the powerful forces currently reshaping the international system—most significantly geopolitical competition and economic decoupling between the United States and China in the age of Covid-19.

A satellite view of the Baihetan Dam, under construction on the Jinsha River in Yunnan province, February 4, 2020.

CNES/Airbus, used with permission

Paper

China Trading Power: Improving Environmental and Economic Efficiency of Yunnan’s Electricity Market

| March 2021

In this report, we propose a market reform pathway for Yunnan that is both feasible and applicable to address some of these challenges immediately, while aiming for a standard design based on well-documented international experience. Our proposal includes at its heart a pay-for-performance monthly capacity auction that can help cover revenue deficiencies in the energy market. Building on international experience with capacity markets, this approach provides incentives for availability when generation is needed most and is compatible with the adoption of a single energy market for all electricity resources. Out-of-market payments to cover stranded costs of certain firms can thus be minimized. Finally, engaging consumers in both these energy and capacity markets can create high-powered incentives to shift consumption to low-cost months and hours, benefitting the entire province.

 Chinese structures and an airstrip on the man-made Subi Reef

Francis Malasig/Pool Photo via AP, File

Analysis & Opinions - Project Syndicate

What Could Cause a US-China War?

| Mar. 02, 2021

Thucydides attributed the war that ripped apart the ancient Greek world to two causes: the rise of Athenian power—and the fear that this created in the established power, Sparta. Joseph Nye advises that in order to prevent a new cold or hot war, the United States and China must avoid exaggerated fears and misperceptions about changing power relations.