An Interview With the US President

Multiple powers, including China and the United States, will contribute to ongoing economic development in Africa, suggests US President Barack Obama. Editors with the Economist interviewed Obama just before the US summit with African heads of state and business leaders in Washington, and he offers insights on US relations with emerging economies: ASEAN nations do not want to choose between China and the United States and do not want to be bullied; Russia is dismissed as an economic or political competitor. Obama also spells out the thinking behind US policy towards China. One needs to be firm with China because, he told the Economist, “they will push as hard as they can until they meet resistance…. There have to be mechanisms both to be tough with them when we think that they’re breaching international norms, but also to show them the potential benefits over the long term.” For Obama, isolationism and go-it-alone interventions are no longer options. Instead, he suggests a striving for cooperation and multilateralism built over time. To maintain influence and enjoy sustainable prosperity, emerging and major economies alike must contend with growing inequality that threatens policy initiatives in trade, systems of governance, or globalization in all endeavors. – YaleGlobal