Global economic disparity : a dynamic force in geoeconomic competition of superpowers / Jae Wan Chung.

Format:

Book

Author/Creator:

Chung, Jae Wan, author.

Language:

English

Subjects (All):

Economic development--Developing countries.

Economic development.

Developing countries.

Economic development--Developed countries.

International trade.

International economic relations.

Geopolitics.

Economic history.

Developed countries.

Physical Description:

xviii, 191 pages ; 24 cm

Place of Publication:

Lanham, Maryland : Lexington Books, [2015]

Summary:

The world is a veritable stage for superpowers. Major historical events are best viewed as the outcomes of games played by superpowers for their own economic interests. The objective of this book is to explore the primary cause of global historical events. A global economic disparity (GED) motivates superpowers to pursue their interests and results in the corresponding global historical event (GHE). Global Economic Disparity: A Dynamic Force in Geoeconomic Competition of Superpowers explores the causal relationships between GEDs and GHEs that stand out in recent global history since the first Industrial Revolution, taking a geoeconomic approach that encompasses economics, international political affairs, history, and geography. The book confirms the causalities between GEDs and GHEs. It is a pioneering work that provides a unique but powerful policy implication: in order to alleviate international conflicts and tensions between superpowers, it is necessary to reduce GEDs. And since it is virtually impossible for a few superpowers to reduce the GEDs, the world economy needs a multipolar economic system for global stability through competition. The book was written shortly after the world economy was trapped within downward spirals caused by the U.S. financial crisis and its contagion. As a collective representation of GEDs in various areas, the financial disparity is a central part of GEDs. This book rigorously examines the financial crisis (2008-2014) in the United States and the Federal Reserve's response, a program of quantitative easing implemented in three phases, while bearing in mind that the origin of the current crisis is not solely the financial sector or stock markets, but worldwide economic disequilibrium. This book also focuses on the details for the causal relationships prevailing in several major areas: human resources, raw materials, energy, environment, and poverty. Book jacket.

Contents:

I Global Economic Disparities and Global Historical Events xix

1 Global Economic Disparities and Historical Events 1

2 The Global Economy and Superpowers 17

II Disparities in International Trade and Finance 37

3 Open Economy Macroeconomic Principles and Policy Implications 39

4 Financial Crises in the United States 51

5 Impact of the U.S. Financial Crisis on Economies of Euro Countries and East Asia 71

III Origins of Global Economic Disparities 83

6 Human Resources and Technology 85

7 Raw Materials 99

8 Energy 113

9 The Environment, Global Warming, and Water Resources 137

10 Food, Population, and Poverty 151.

Notes:

Includes bibliographical references and index.

ISBN:

9780739193570

0739193570

OCLC:

900594737