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The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the World Economy - Updated Edition

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 that will have long-lasting effects.

Demonstrating how economic policies can carry negative repercussions the world over, The Great Rebalancing sheds urgent light on our globally linked economic future.

Michael Pettis is professor of finance and economics at Peking University, a senior associate at the Carnegie Endowment, and a widely read commentator on China, Europe, and the global economy. He is the author of The Volatility Machine: Emerging Economies and the Threat of Financial Collapse.

ISBN: 9780691163628

ISBN-10: 9780691163628

Publisher: Princeton University Press

Publication Date: 10/26/2014 - 12:00am

On Sale: 10/26/2014 - 12:00am

Pages: 256

Language: English

Categories

International - Economics & Trade

Economic Conditions

Public Policy - Economic Policy