When a senior defense expert recently testified before a US Congressional commission on China's military capability, he detailed the extraordinarily robust weapons program the People's Liberation Army (PLA) has been pursuing. He pointed particularly to the PLA's increasing number of short-, intermediate- and even long-range ballistic missiles. But the expert concluded that, despite the alarming number of missiles, they did not constitute a ``buildup.''
Baffled by that conclusion, the Congressmen began asking one question relentlessly: if the existing PLA missiles did not constitute a ``buildup,'' then what number of missiles would? The inability to answer this question clearly exorcised and angered both the senior expert and the committee.
But this episode illustrates a fundamental and frustrating problem: the more we know about what is going on in China the less we are sure about whether China has actually become a threat. We know China has doubled and redoubled its defense budget for, among other things, a massive weapons development program, including modernizing a deterrent and second-strike nuclear capability. Yet we cannot decide whether this build-up is menacing.
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Following the latest G20 summit, the G7 should be thinking seriously about deepening its own ties with more non-aligned countries. If the Ukraine war drags on, and if China continues to threaten to take Taiwan by force, the G20 will be split between friends of the BRICS and friends of the G7.
sees the grouping as increasingly divided between friends of the G7 and friends of China and Russia.
To prevent catastrophic climate change and accelerate the global transition to a net-zero economy, policymakers and asset owners urgently need to rethink how we channel capital at scale. The key is to develop new financial instruments that are profitable, liquid, and easily accessible to savers and investors globally.
explain what it will take to channel private capital and savings toward sustainable development.
When a senior defense expert recently testified before a US Congressional commission on China's military capability, he detailed the extraordinarily robust weapons program the People's Liberation Army (PLA) has been pursuing. He pointed particularly to the PLA's increasing number of short-, intermediate- and even long-range ballistic missiles. But the expert concluded that, despite the alarming number of missiles, they did not constitute a ``buildup.''
Baffled by that conclusion, the Congressmen began asking one question relentlessly: if the existing PLA missiles did not constitute a ``buildup,'' then what number of missiles would? The inability to answer this question clearly exorcised and angered both the senior expert and the committee.
But this episode illustrates a fundamental and frustrating problem: the more we know about what is going on in China the less we are sure about whether China has actually become a threat. We know China has doubled and redoubled its defense budget for, among other things, a massive weapons development program, including modernizing a deterrent and second-strike nuclear capability. Yet we cannot decide whether this build-up is menacing.
To continue reading, register now.
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