SHANGHAI — The Hollywood studio DreamWorks Animation recently announced a bold move to crack China’s tightly protected film industry: a $330 million deal to create a Shanghai animation studio that might one day rival the California shops that turn out hits like “Kung Fu Panda” and “The Incredibles.” What DreamWorks did not showcase, however, was one of its newest — and most important — Chinese partners: Jiang Mianheng, the 61-year-old son of Jiang Zemin, the former Communist Party leader and the most powerful political kingmaker of China’s last two decades. The younger Mr. Jiang’s coups have included ventures with Microsoft and Nokia and oversight of a clutch of state-backed investment vehicles that have major interests in telecommunications, semiconductors and construction projects. That a dealmaker like ... Continue reading →

America's modern China policy has been extraordinarily successful. Formulated between 1972 and 1982, it's embodied in the Three Joint Communiqués and the Taiwan Relations Act, which officially recognized the People's Republic of China as China's government and articulated U.S. interests in Taiwan's security. The policy has provided a time-tested framework for the United States to interact with China as it has climbed the development ladder to become the world's second-largest economy, and it has kept the United States committed to the maintenance of stability across the Taiwan Strait. With a three-decade demonstrated track record, the adage, "If it isn't broke, don't fix it," would seem sound policy advice. Yet policy machinery does require periodic maintenance. America's relationship with Taiwan, an important component of the United ... Continue reading →