p**o
发帖数: 197 | 1 Sustaining China's Economic Growth After the Global Financial Crisis [
Paperback]
Nicholas R. Lardy
Book Description
Publication Date: January 15, 2012
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growth model of low consumption, high saving countries such as China is
obsolete.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. | p**o
发帖数: 197 | 2 China's Rise: Challenges and Opportunities [Paperback]
C. Fred Bergsten (Author), Charles Freeman (Author), Nicholas R. Lardy (
Author), Derek J. Mitchell (Author）
Book Description
Publication Date: October 1, 2009
The global economic crisis has made clear China's importance and expanding
role on the world stage. The bestselling book, China's Rise: Challenges and
Opportunities--now available in paperback--explains actions both China and
the United States can take that will not only maximize the opportunities for
China's constructive integration into the international community, but also
help form a domestic consensus that will provide a stable foundation for
such policies. This book is unique in its analysis of the authoritative data
on China's economy, foreign and domestic policy, and national security.
China is confronting domestic challenges that are in many ways side effects
of its economic successes, while simultaneously trying to take advantage of
the foreign policy benefits of those same successes. The book from The China
Balance Sheet Project, a joint, multiyear project of the Center for
Strategic and International Studies and the Peterson Institute, discusses
China's military modernization, China's increasing soft power influence in
Asia and around the world, China's policy toward Taiwan, domestic political
development, Beijing's political relations with China's provincial and
municipal authorities, corruption and social unrest, rebalancing China's
economic growth, the exchange rate controversy, energy and the environment,
industrial policy, trade disputes, and investment issues. The paperback
version features a new introduction that addresses events since the fall of
2008 and provides context for the book's insight in light of those events. | p**o
发帖数: 197 | 3 Sustaining China's Economic Growth After the Global Financial Crisis [
Paperback]
Nicholas R. Lardy
Book Description
Publication Date: January 15, 2012
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. | p**o
发帖数: 197 | 4 China's Rise: Challenges and Opportunities [Paperback]
C. Fred Bergsten (Author), Charles Freeman (Author), Nicholas R. Lardy (
Author), Derek J. Mitchell (Author）
Book Description
Publication Date: October 1, 2009
The global economic crisis has made clear China's importance and expanding
role on the world stage. The bestselling book, China's Rise: Challenges and
Opportunities--now available in paperback--explains actions both China and
the United States can take that will not only maximize the opportunities for
China's constructive integration into the international community, but also
help form a domestic consensus that will provide a stable foundation for
such policies. This book is unique in its analysis of the authoritative data
on China's economy, foreign and domestic policy, and national security.
China is confronting domestic challenges that are in many ways side effects
of its economic successes, while simultaneously trying to take advantage of
the foreign policy benefits of those same successes. The book from The China
Balance Sheet Project, a joint, multiyear project of the Center for
Strategic and International Studies and the Peterson Institute, discusses
China's military modernization, China's increasing soft power influence in
Asia and around the world, China's policy toward Taiwan, domestic political
development, Beijing's political relations with China's provincial and
municipal authorities, corruption and social unrest, rebalancing China's
economic growth, the exchange rate controversy, energy and the environment,
industrial policy, trade disputes, and investment issues. The paperback
version features a new introduction that addresses events since the fall of
2008 and provides context for the book's insight in light of those events. |
|
