Unbalanced: The Codependency of America and China

Unbalanced: The Codependency of America and China

by Stephen Roach
     
 

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ISBN-10: 0300187173

ISBN-13: 9780300187175

Pub. Date: 01/28/2014

Publisher: Yale University Press


The modern-day Chinese and U.S. economies have been locked in an uncomfortable embrace since the late 1970s. Although the relationship was built on a set of mutual benefits, in recent years it has taken on the trappings of an unstable co-dependence. This insightful book lays bare the pitfalls of the current China-U.S. economic relationship, highlighting disputes

Overview


The modern-day Chinese and U.S. economies have been locked in an uncomfortable embrace since the late 1970s. Although the relationship was built on a set of mutual benefits, in recent years it has taken on the trappings of an unstable co-dependence. This insightful book lays bare the pitfalls of the current China-U.S. economic relationship, highlighting disputes over trade policies and intellectual property rights, sharp contrasts in leadership styles, the role of the Internet, and the political economy of social stability.
 
Stephen Roach, a firsthand witness to the Asian financial crisis of the late 1990s and an economics expert who likely knows more about U.S.-China trade than any other Westerner, details how the two economies mirror one another. Co-dependency augments the tensions and suspicions between the two nations, but there is reason to hope for less antagonism and rivalry, the author maintains. In the wake of the 2008 financial crisis, both economies face structural changes that present opportunities for mutual benefit. Roach describes a way out of the escalating tensions of co-dependence and insists that the Next China offers much for the Next America—and vice versa.

Product Details

ISBN-13:
9780300187175
Publisher:
Yale University Press
Publication date:
01/28/2014
Pages:
344
Product dimensions:
6.40(w) x 9.30(h) x 1.40(d)

Table of Contents

Preface ix

Part 1 In the Beginning 1

1 The Political Economy of False Prosperity 4

2 Who Depends on Whom? 23

Part 2 Leadership and Power 39

3 The Boss and the Maestro: Greenspan and Zhu 43

4 The Great Stability Debate: Wen vs. Bernanke 63

5 Two Takes on Strategy Washington and the NDRC 83

Part 3 Tensions 103

6 A New Globalization 106

7 Bilateralism in a Multilateral World 125

8 The China Gripe 145

Part 4 Warning Shots 169

9 Imbalances and the Great Crisis 172

10 Smoot-Hawley Redux 190

Part 5 Resolution 209

11 Rebalancing 213

12 The Next America Meets the Next China 233

13 Codependency, the Internet, and a Dual Identity Crisis 250

Notes 269

Acknowledgments 309

Index 313

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