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How Trade with China Threatens Western Institutions - The Economic Roots of a Political Crisis (Hardcover, 1st ed. 2021)
Loot Price: R3,539
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How Trade with China Threatens Western Institutions - The Economic Roots of a Political Crisis (Hardcover, 1st ed. 2021)
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This book evaluates the institutional environments of China and the
United States, and the West more broadly, and how they affect their
trading relationship, with specific emphasis on intellectual
property theft and other allegations of unfair competition. The
economic and political characteristics of the two countries affect
the balance of power in their trading relationship, with
ramifications far beyond jobs and output. The major theme is
China's ability to free ride on Western institutions through
intellectual property theft and extortion. This free riding is far
more than just infringing patents and reaping profits; it creates a
combination of incentives for political pressures in the West that
diminish the free market and liberal Western values. The result is
the classic result of free riding - underprovision, or
degeneration, of the Western institutions that made the West
prosperous and free. At the same time, China's economic might,
military prowess, and global soft power increase, often with
deleterious effects for freedom and free markets. This book is
distinctive because it integrates public choice ideas about
economic institutions, state action, and strategic behavior into
international trade. It also takes account of the economic
characteristics of China and the West and explains why they present
a situation that is fundamentally different from other trade
disputes. Institutions and political influence are central to this
book's analysis of trade, which can be more dangerous and more
disguised than the welfare gains from trade. Providing a concise
and lucid distillation of pressing issues, this book is critical
reading for scholars studying trade with China and its effects on
both global and Western innovation, economic output, soft power,
and freedom more broadly.
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