In the United States, proposed budget deals may ensure stability in the short-term. In China, the ongoing economic reforms could foster sustained growth in the medium-term. In both cases, new challenges await after 2015.

When Janet Yellen was nominated to the position of Federal Reserve Chair, investors and policy analysts cheered the nomination of the first female head, and paid great attention to the future of quantitative easing, writes Yu Xiang.

October’s shutdown of the US federal government elicited responses from Chinese leaders and businesses alike. These responses all seemed to send the same message – the US must get its house in order or China will not be investing in the United States much longer.

Changes suggested by the Third Plenum could be useful for America’s ailing economy.

Africa is poised to see an uptick in infrastructure construction following a pledge by China’s Export-Import Bank to invest as much as $1 trillion in financing in the continent over the next decade. As Robert Rotberg explains, the commitment will strengthen China’s partnerships with African nations while developing critical infrastructure in the region.

With significant reform measures clarified on the Party's Third Plenum for such important sectors as fiscal and finance systems and State-owned enterprises, there are few direct mentions or words about urbanization. However, if reading between the lines, a major shift in the development of urbanization is too apparent to ignore, writes Zhang Monan.

With a new stage of reforms beginning, it is important for China to look outside its borders for economic reform. China aims to build a new major-power relationship with the U.S. and doing this should involve joining the TPP and other FTAs. Joining such agreements would bring a variety of benefits to the world’s second-largest economy.

If government power cannot be effectively restrained and supervised, the decisive role of the market in resource distribution will be undermined, writes Yi Xianrong.

Through an analysis of the Third Plenum communiqué, Zhang Monan argues that China has entered a new stage of development, and a second round of economic reform will promote growth in the decade to come.

China’s new leadership anticipates that entering Trans-Pacific Partnership (TPP) negotiations would trigger a new round of domestic reforms. Niu Tiehang elaborates on the new roadmap for Chinese reforms and the “outside-in” effects the TPP talks and the establishment of Shanghai FTZ would have on China.