Given the current state and federal policy landscape and range of potential energy market dynamics on the horizon, we find that the US is on track to reduce emissions 13% to 16% below 2005 levels by 2020.

Following the Baoshang Bank seizure on May 24, Beijing’s dilemma between financial reform and financial stability is clearly in view. Only administrative pressure on large banks to maintain short-term lending to risky institutions is currently preventing a larger credit crunch.

The report shows finds that two-way FDI flows dropped by 60% last year to just $18 billion, amidst US-China frictions, stepped-up US investment screening and persistent Chinese capital controls.