China's economic growth is sputtering, the Euro is under threat,
and the United States is combating serious trade disadvantages.
Another Great Depression? Not quite. Noted economist and China
expert Michael Pettis argues instead that we are undergoing a
critical rebalancing of the world economies. Debunking popular
misconceptions, Pettis shows that severe trade imbalances spurred
on the recent financial crisis and were the result of unfortunate
policies that distorted the savings and consumption patterns of
certain nations. Pettis examines the reasons behind these
destabilizing policies, and he predicts severe economic
dislocations--a lost decade for China, the breaking of the Euro,
and a receding of the U.S. dollar--that will have long-lasting
effects.
Pettis explains how China has maintained massive--but
unsustainable--investment growth by artificially lowering the cost
of capital. He discusses how Germany is endangering the Euro by
favoring its own development at the expense of its neighbors. And
he looks at how the U.S. dollar's role as the world's reserve
currency burdens America's economy. Although various imbalances may
seem unrelated, Pettis shows that all of them--including the U.S.
consumption binge, surging debt in Europe, China's investment orgy,
Japan's long stagnation, and the commodity boom in Latin
America--are closely tied together, and that it will be impossible
to resolve any issue without forcing a resolution for all.
Demonstrating how economic policies can carry negative
repercussions the world over, "The Great Rebalancing" sheds urgent
light on our globally linked economic future.
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!