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Sustaining China`s Economic Growth - After the Global Financial Crisis (Paperback, New)
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Sustaining China`s Economic Growth - After the Global Financial Crisis (Paperback, New)
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List price R581
Loot Price R475
Discovery Miles 4 750
You Save R106 (18%)
Expected to ship within 12 - 17 working days
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The global financial crisis and ensuing economic downturn has
raised many questions concerning the future of global economic
growth. Prior to the financial crisis, global growth was
characterized by growing imbalances, reflected primarily in large
trade surpluses in China, Japan, Germany, and the oil exporting
countries and rapidly growing deficits, primarily in the United
States. The global crisis raises the question of whether the
previous growth model of low consumption, high saving countries
such as China is obsolete. Although a strong and rapid policy
response beginning in the early fall of 2008 made China the first
globally significant economy to come off the bottom and begin to
grow more rapidly, critics charged that China's recovery was based
on the old growth model, relying primarily on burgeoning investment
in the short run and the expectation of a revival of expanding net
exports once global recovery gained traction. Critics, however,
argued that as government-financed investment inevitably tapered
off, the likelihood was that global recovery would not be
sufficiently strong for China's exports to resume their former role
as a major contributor to China's economic expansion. The prospect,
in the eyes of these critics, is that China's growth will
inevitably falter.This study examines China's response to the
global crisis, the prospects for altering the model of economic
growth that dominated the first decade of this century, and the
implications for the United States and the global economy of
successful Chinese rebalancing. On the first it analyzes the
strengths and weaknesses of China's stimulus program. On the second
it analyzes the nature of origins of the imbalances in China's
economy and the array of policy options that the government has to
transition to more consumption-driven growth. On the third
successful rebalancing would mean that more rapid growth of
consumption would offset the drag on growth from a shrinkage of
China's external surplus. Successful rebalancing would mean China
would no longer be a source of financing for any ongoing US
external deficit. From a global perspective China would no longer
be a source of the global economic imbalances that contributed to
the recent global financial crisis and great recession.
General
Imprint: |
The Peterson Institute for International Economics
|
Country of origin: |
United States |
Release date: |
December 2011 |
First published: |
December 2011 |
Authors: |
Nicholas Lardy
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Dimensions: |
228 x 153 x 11mm (L x W x T) |
Format: |
Paperback
|
Pages: |
194 |
Edition: |
New |
ISBN-13: |
978-0-88132-626-0 |
Categories: |
Books >
Business & Economics >
Economics >
General
|
LSN: |
0-88132-626-7 |
Barcode: |
9780881326260 |
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