In The News

China Halts New Policy on Tech for Banks

Paul Mozur and Jane Perlez April 20, 2015
China plans revisions on a policy that required foreign technology firms selling equipment to Chinese banks to turn over source code and other business secrets. The United States has accused hackers sponsored by the Chinese military of hacking corporate and government websites. China worries about surveillance installed with any US-made equipment. US officials anticipate the Chinese to encourage...

The Global Economy’s Bizarre Problem: Too Much Money

Matt Phillips April 16, 2015
After global recession struck in 2008, the US injected money into the economy to reduce interest rates and encourage lending. The US effort was described as successful and Japan and Europe soon followed. Overall, the global economy is still sluggish, economic uncertainty lingers. Companies, normally competitive, hesitate to expand or invest in research. Individual and corporate investors compete...

European Union Divided Over Greek Bailout

Chris Miller April 16, 2015
Fervent democracy at the national level is hampering monetary policymaking for the broader European Union in bringing quick end to the Greek debt crisis, explains Chris Miller, a Yale doctoral candidate and research associate at the Hoover Institution. Greek voters resent austerity measures imposed by the rest of Europe led by Germany, yet polls show that two thirds prefer staying in the eurozone...

The Power of the New China-Led Investment Bank

Richard Javad Heydarian April 13, 2015
The US “pivot” to Asia hit turbulence with a decision by the UK to join the China-led Asia Infrastructure Investment Bank as a founding member. Previously, the US had led an effort to boycott the AIIB among European allies and key allies in Asia-Pacific including Japan, South Korea, and Australia. Though officially based on doubts regarding the AIIB’s investment standards for governance,...

Nations Line Up to Join China-Led Infrastructure Bank

Will Hickey April 9, 2015
The world’s most populous nation has a sizable sovereign fund and is on track to surpass the United States as the world’s largest economy. “The Chinese development model of technology transfer and infrastructure development, including highways, ports, railways, has brought millions out of poverty and into a middle class existence,” writes Will Hickey, of the School of Government and Public Policy...

Making of a New World Order

Nayan Chanda April 3, 2015
Many US allies including South Korea, Australia and the United Kingdom, signed up for founders’ memberships of the new China-led Asian Infrastructure Investment Bank. “Leaders in Washington were stunned that their transatlantic ‘cousins’ did not even consult them before rushing to sign up with AIIB,” writes Nayan Chanda, YaleGlobal editor, in his column for Businessworld. “Ever since China...

Global Push Aims to Change China's Mind on Bank Rules: US Official

Krista Hughes March 23, 2015
Japan, the EU and the US are urging China to delay enforcing new rules “that would force technology vendors to Chinese banks to hand over secret source code and adopt Chinese encryption algorithms,” reports Krista Hughes for Reuters Canada. China expects those hoping to do business in the world’s most populous nation to abide by Chinese law. The rules – proposed as cybersecurity and...