The Great Rebalancing : Trade, Conflict, and the Perilous Road Ahead for the World Economy
Language: English
Published by Princeton University Press, 2013
- Hardcover
- Used
Seller: Better World Books, Mishawaka, IN, U.S.A.Better World Books
AbeBooks seller since August 3, 2006
Condition: Used - Very good
£ 5.70
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Former library copy. Pages intact with possible writing/highlighting. Binding strong with minor wear. Dust jackets/supplements may not be included. Includes library markings. Stock photo provided. Product includes identifying sticker. Better World Books: Buy Books. Do Good.
Seller Inventory # 9378872-20
- Title
- The Great Rebalancing : Trade, Conflict, and the Perilous Road Ahead for the World Economy
- Author
- Pettis, Michael
- Publisher
- Princeton University Press
- Publication year
- 2013
- Condition
- Very Good
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 0691158681
- ISBN 13
- 9780691158686
- Item weight
- 1.113 pounds
- Dimensions
- N/A
How trade imbalances spurred on the global financial crisis and why we aren't out of trouble yet
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.
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Better World Books
Mishawaka, IN, U.S.A.
AbeBooks seller since August 3, 2006
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Better World Books (https://www.BetterWorldBooks.com) is a for-profit, socially conscious business and a global online bookseller that collects and sells new and used books online, matching each purchase with a book donation. Each sale generates funds for literacy and education initiatives in the U.S., the UK, and around the world. Since its launch in 2003, Better World Books has raised $33 million for libraries and literacy, donated over 32 million books, and reused or recycled more than 397 million books.…
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