Download App
>> | LShop | >> | Book | >> | Economics, Finance, ... | >> | Economics | >> | Sustaining China's E... |
ISBN
:
9780881326260
Publisher
:
Peterson Institute
Subject
:
Economics, Finance & Accounting, Business & Management
Binding
:
PAPERBACK
Pages
:
200
Year
:
2012
₹
1872.0
₹
1366.0
Buy Now
Shipping charges are applicable for books below Rs. 101.0
View DetailsEstimated Shipping Time : 5-7 Business Days
View DetailsDescription
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crisis raises the question of whether the previous growth model of low consumption, high saving countries such as China is obsolete.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.
Author Biography
Nicholas R. Lardy is the Anthony M. Solomon Senior Fellow at the Peterson Institute for International Economics. He joined the Institute in March 2003 from the Brookings Institution, where he was a senior fellow in the Foreign Policy Studies Program from 1995 until 2003 and served as interim director of Foreign Policy Studies in 2001. Before Brookings, he served at the University of Washington, where he was the director of the Henry M. Jackson School of International Studies from 1991 to 1995. From 1997 through the spring of 2000, he was also the Frederick Frank Adjunct Professor of International Trade and Finance at the Yale University School of Management. He is an expert on Asia, especially the Chinese economy.
Related Items
-
of
The Accidental Theorist And Other Dispatches from the Dismal Science New Ed Edition
Paul Krugman
Starts At
2661.0
2772.0
4% OFF
History of Economics: The Past as the Present (Penguin Economics)
John Kenneth Galbraith
Starts At
545.0
699.0
22% OFF
The Wealth of Nations: Books 1-3 (Penguin Classics) (Bks.1-3)
Adam Smith
Starts At
315.0
399.0
21% OFF
Derivatives Simplified: An Introduction to Risk Management
P. Bhaskar
Starts At
376.0
495.0
24% OFF
The Penguin Dictionary of Economics: Seventh Edition (Penguin Reference Books)
Graham Bannock
Starts At
280.0
350.0
20% OFF
Making Rain: The Secrets of Building Lifelong Client Loyalty
Andrew Sobel
Starts At
1143.0
1395.0
18% OFF
Rich Dad's Rich Kid, Smart Kid: Giving Your Child a Financial Head Start
Robert T. Kiyosaki
Starts At
446.0
595.0
25% OFF
Are you sure you want to remove the item from your Bag?
Yes
No
Added to Your Wish List
OK
Your Shopping Bag
- 1 Item
Item
Delivery
Unit Price
Quantity
Sub Total
Order Summary