Breaking down Trump’s last-ditch attempt to cement his legacy on US-China relations.

Source: CBS News

Since 1979, the One China policy has been a foundation to diplomatic relations between the United States and Beijing. For decades, the U.S rejected any formal diplomatic relations with Taiwan, appeasing Beijing’s claims to the island nation as its own territory. Washington never referred to Taiwan as a “country” or “government”, and Taiwan military officials even had to shed their uniforms during visits to the State Department as part of strict guidelines that regulate where officials can meet and how correspondence can be conducted.

The status of Taiwan is not just the bedrock of Beijing’s policy agenda, but perhaps the…

The fight between fiscal and monetary policies continues, with the economy caught in the crossfire.

Source: Time Magazine

The Battle Over Pandemic Relief

Last month, Secretary of Treasury Mnuchin requested to return $455 billion of coronavirus emergency lending funds back to Congress. These key programs were intended to help Americans weather the pandemic, providing credit to employers, small businesses, and state and local governments. Though the majority of funds remain largely unused, the emergency loans helped to shore up market confidence during the economic freefall in March.

In his justification, Mnuchin argued that the funds served its purposes, citing sufficient lending capacity to meet the borrowing needs of consumers and businesses. But in a rare dissention, the Federal Reserve issued a statement arguing…

How geography is widening the economic and political gap.

Brookings Institute

We’ve all heard the warnings about regional inequality in America. Globalization is here, and it’s drastically reshaping the economic tapestries of cities and small towns alike. The signs of change are hard to miss: high-wage, white collar jobs driving innovation in urban areas; the iconic blue-collar workforce fading away in rural America; the once-almighty manufacturing industry that employed close to 20 million employees in its heyday shrinking by almost half.

We’ve also known how regional divergence are associated with political ones as well. A Brookings study of the 2020 election results showed just how neatly political ideologies fall along economic…

Why Biden failed to connect with voters, and what that means for Democrats moving forward.

The Cross Country Caravan for Trump, a group of Vietnamese supporters of Donald Trump from around the country. Photo by Lukas Flippo.

As Republicans capitalized on propaganda about voting frauds and the socialist left, Biden barely picked up 4% of the Republican votes and faced a terrifyingly close race. When 71 million people across America voted for Trump, the message is clear: the Democratic Party’s playbook of relying on anti-Trump messaging has failed.

Take Vietnamese Americans, for example. While all Asian Americans surveyed preferred Biden by a nearly 25-point margin, Vietnamese were the abnormality: 48% favored Trump compared to 36% for Biden. …

If there’s an argument to be made on the perils of debt, China serves as the prime example.

Source: SCMP

While the United States reckons with slowing growth and surging debt at home, China’s economic recovery is picking up steam: it reported a 4.9% increase in GDP in the third quarter of 2020. This is almost exceptional — considering that China didn’t slash interest rates like many of its Western counterparts — but hidden beneath this success story are signs of a worsening debt crisis that will surely affect its economic trajectory in the long run.

How Large Is China’s Debt?

As of June 2020, China’s total…

Why the recession, not the fiscal deficit, should scare us right now

Steve Breen

Despite a lagging economy and another spike in coronavirus cases, it looks like a stimulus package will not be passed before the election. Congress remains largely divided — a stark difference from the unity shown in April, when the $2.2 trillion CARES Act passed in the Senate with a 96–0 vote. So, what has changed?

America’s Big Debt Problem

Although there is a general agreement in Congress about the need for a new stimulus deal, fears about the national debt have risen to the forefront. According to Senate Majority Leader Mitch McConnell,

Photo by Aaron Burden on Unsplash

When I was 11, my family immigrated from Vietnam to Houston, Texas, in search of a better life. We dreamed of its economic opportunities, its reputation for being a melting pot, its promises that if you worked hard, get an education, then you can achieve the American Dream. More than a decade later, this dream is further away than ever. When I look at the current state of America, it’s easy to see why my optimism had vanished.

The coronavirus, rather than bringing us together in fighting against a common cause, has only exposed the racial and class tensions hidden…

How a small country in Southeast Asia can outgrow its neighbors

Photo by Tran Phu on Unsplash

Six months into the pandemic, Vietnam’s fight against COVID-19 has been widely praised as a success story. Out of 66 developing economies, the Economist ranked Vietnam as the 12th strongest economy to cope with the global crisis, its success owing to swift containment strategies and a whole-of-society effort in battling the virus.

Still, Vietnam’s success is not a reason for celebration just yet. In the end of July, the country found itself grappling with a second wave that led to over 500 new local transmissions and 25 deaths. Strict…

In the age of COVID-19, America’s outdated payment system is making it more expensive to be poor. How can real-time payments fix this problem?

Getty Images/iStockphoto

On March 27, Congress passed the CARES Act that provides $2 trillion in direct payments to Americans, but it took as much as three months for households to get the money in their accounts. Needless to say, this is a serious problem for the 78 percent of Americans living paycheck to paycheck. …

Amid the national crisis on race, this debate on the distributional consequences of monetary policies is certainly an important one.

Federal Reserve Board Chairman Jerome Powell. | Alex Wong/Getty Images

The recent attention toward the Fed’s role in widening economic inequality is hardly unfounded. The stock market is rebounding at breakneck pace thanks to swift actions by the Fed to ease monetary conditions, yet unemployment remains at its decade high of 10.2%. That figure is even worse for Blacks and Latinos, whose unemployment rates remain at 15.4% and 14.5%.

Meanwhile, the Fed continues to be cautious about the limits of its authority. According to current Fed Chair Jay Powell,


Vy Nguyen

Writing on economic, equality, and foreign policy. Tweet me @VyNngn

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