Coronavirus News Asia

Xi Jinping’s great paradox – Asia Times


There remain few US Sinologists worth following, especially since the reversal embodied in the Donald Trump administration’s willingness to decouple the American economy from China’s. This fundamental break with the People’s Republic of China is a rupture that will endure for decades; it will characterize and dominate US relations in Asia for the next several presidencies.

Reversing a half-century of engagement isn’t a policy call Chinese leaders ever envisaged. Nor was the failure to manage American perceptions of Beijing. But China’s dominant political class hasn’t acknowledged serious shortcomings about its own policy failures.

Under its current leadership, China failed to secure prominence of the yuan as an international currency, in effect weakening its ability to manage any crisis that is easily afforded to nation-states with fiat money. The current pandemic is one of several that have rocked the Chinese polity in a way difficult to measure yet prominently discerned among Sinologists. Still, there remain a few “China hands” worth listening to as the US economy seeks decoupling as permanent policy.



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