Unbalanced : the codependency of America and China / Stephen Roach.

Format:

Book

Author/Creator:

Roach, Stephen S. (Stephen Samuel), 1945-

Language:

English

Subjects (All):

United States--Commerce--China.

United States.

China--Commerce--United States.

China.

Physical Description:

1 online resource (343 p.)

Edition:

1st ed.

Place of Publication:

New Haven, Connecticut ; London : Yale University Press, 2014.

Language Note:

English

Summary:

The Chinese and U.S. economies have been locked in an uncomfortable embrace since the late 1970's. Although the relationship initially arose out of mutual benefits, in recent years it has taken on the trappings of an unstable codependence, with the two largest economies in the world losing their sense of self, increasing the risk of their turning on one another in a destructive fashion. In Unbalanced: The Codependency of America and China Stephen Roach, senior fellow at Yale University and former chairman of Morgan Stanley Asia, lays bare the pitfalls of the current China-U.S. economic relationship. He highlights the conflicts at the center of current tensions, including disputes over trade policies and intellectual property rights, sharp contrasts in leadership styles, the role of the Internet, the recent dispute over cyberhacking, and more. A firsthand witness to the Asian financial crisis of the late 1990's, Roach likely knows more about the U.S.-China economic relationship than any other Westerner. Here he discusses: Why America saving too little and China saving too much creates mounting problems for both How China is planning to re-boot its economic growth model by moving from an external export-led model to one of internal consumerism with a new focus on service industries How America, shows a disturbing lack of strategy, preferring a short-term reactive approach over a more coherent Chinese-style planning framework The way out: what America could do to turn its own economic fate around and position itself for a healthy economic and political relationship with China In the wake of the 2008 crisis, both unbalanced economies face urgent and mutually beneficial rebalancings. Unbalanced concludes with a recipe for resolving the escalating tensions of codependence. Roach argues that the Next China offers much for the Next America-and vice versa.

Contents:

Front matter

CONTENTS

PREFACE

1. The Political Economy of False Prosperity

2. Who Depends on Whom?

3. The Boss and the Maestro: Greenspan and Zhu

4. The Great Stability Debate: Wen vs. Bernanke

5. Two Takes on Strategy

6. A New Globalization

7. Bilateralism in a Multilateral World

8. The China Gripe

9. Imbalances and the Great Crisis

10. Smoot-Hawley Redux

11. Rebalancing

12. The Next America Meets the Next China

13. Codependency, the Internet, and a Dual Identity Crisis

Notes

Acknowledgments

Index

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on print version record.

ISBN:

9780300188462

0300188463

OCLC:

868964846