Eclipse : living in the shadow of China's economic dominance / Arvind Subramanian.

Format:

Book

Author/Creator:

Subramanian, Arvind.

Language:

English

Subjects (All):

Economic development--China.

Economic development.

Economic development--United States.

Economic forecasting--China.

Economic forecasting.

Economic forecasting--United States.

International economic relations.

Physical Description:

1 online resource (252 p.)

Edition:

1st ed.

Place of Publication:

Washington, DC : Peterson Institute for International Economics, 2011.

Language Note:

English

Summary:

In his new book, Arvind Subramanian presents the following possibilities: What if, contrary to common belief, China's economic dominance is a present-day reality rather than a faraway possibility? What if the renminbi's takeover of the dollar as the world's reserve currency is not decades, but mere years, away? And what if the United States's economic pre-eminence is not, as many economists and policymakers would like to believe, in its own hands, but China's to determine?Subramanian's analysis is based on a new index of economic dominance grounded in a historical perspective. His examination makes use of real-world examples, comparing China's rise with the past hegemonies of Great Britain and the United States. His attempt to quantify and project economic and currency dominance leads him to the conclusion that China's dominance is not only more imminent, but also broader in scope, and much larger in magnitude, than is currently imagined. He explores the profound effect this might have on the United States, as well as on the global financial and trade system. Subramanian concludes with a series of policy proposals for other nations to reconcile China's rise with continued openness in the global economic order, and to insure against China becoming a malign hegemon.

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:

1-283-32165-3

9786613321657

0-88132-641-0

0-88132-634-8

OCLC:

759209593