East Asia

The island must “make the first move” in shoring up its defenses and protecting its national security, said former US Secretary of Defense Mark T. Esper at the Atlantic Council.

Cooperation with China should focus on areas where our interests still align and where we can keep Beijing grounded in the international system. Like-minded allies and partners must pair such efforts with commitments to defend against China’s violations of international norms, impose costs on irresponsible behavior, and strengthen themselves and current global institutions to compete effectively and uphold liberal values.

China’s slowing growth, if left unchecked, will threaten its small- and medium-sized banks. This “Achilles’ heel” of its banking system will be further weakened by spreading problems in the property sector.