In 1994, when I was secretary of defense, we came perilously close to a second Korean War because of North Korea’s nuclear program. Today we are again approaching a crisis with North Korea, and again the cause is its nuclear program.
At a time when the United States is poised to turn inward, China’s economic performance is more important globally than ever. Whether China can achieve sustainable growth patterns in the coming years will depend upon a number of key factors.
Free trade is on the run. The president-elect of the United States calls the free market the “dumb market.” He wants to renegotiate past trade deals. The death spiral of manufacturing jobs makes people wonder if trade with China was really such a good idea. Some economists claim to have found evidence that increased trade with China causes an increase in suicide.