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Eclipse : living in the shadow of China's economic dominance / Arvind Subramanian.
Lippincott Library HC427.95 .S862 2011
Available
- Format:
- Book
- Author/Creator:
- Subramanian, Arvind.
- Language:
- English
- Subjects (All):
- Economic development--China.
- Economic development.
- China.
- Economic development--United States.
- Economic forecasting--China.
- Economic forecasting.
- Economic forecasting--United States.
- United States.
- International economic relations.
- Physical Description:
- xvii, 216 pages : illustrations ; 23 cm
- Place of Publication:
- Washington, DC : Peterson Institute for International Economics, 2011.
- Summary:
- Lardy (Peterson Institute for International Economics) explains China's economic policy during the global financial crisis of 2008-09 and analyzes the challenges China's leadership faces in sustaining growth over the medium term. The author argues that the policies that brought China through the global financial crisis will not be as successful in the near future. Of special concern are China's very low share of private consumption expenditure and its super-elevated share of investment in GDP, as well as its outsized manufacturing sector paired with its small service sector, and its unsustainable rate of investment in residential property. The author contends that fixing these imbalances requires market-oriented reforms, especially in the financial sector, the exchange rate regime, and the price of energy and water. Annotation ©2012 Book News, Inc., Portland, OR (booknews.com)
- Contents:
- A brief history of economic dominance
- Quantification and validation of economic dominance
- Quantifying currency dominance
- Forces driving dominance : convergence and gravity
- Projecting economic and currency dominance
- A historical perspective on China's distinctive dominance
- Guarding against rash prophesying
- Economic cooperation with a rising China
- China as the new raison d'etre for reviving multilateralism
- America resurgent or America vulnerable?
- Notes:
- "September 2011."
- Includes bibliographical references and index.
- ISBN:
- 0881326062
- 9780881326260
- 0881326267
- OCLC:
- 745428732
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