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This book focuses on the systematic change in the global economy accompanying the rise of China. Once China has the same huge and advanced economy as the U.S., the global economy's current one-center system will have a chance to change: China will represent an alternative center. If it can satisfy essential criteria for the global economy such as a stable foreign exchange system, healthy international trade environment and strong support for economic development etc., China will be able to offer a viable alternative. In this constellation the two centers of the global economy and financial system, the U.S. and China, would ideally cooperate, and the global economy could benefit from having two economic and financial centers.
List of contents
When China's GDP will be the No.1.- The reason of change: new option occurring.- The prelude of change: China become the center of manufacturing industry in the world.- The key point of change: the new international financial system with two centers.- Increasing interests of other countries.- The competition and cooperation between China and the US.
About the author
Tao Yuan is an Associate Professor of international economics at School of Economics, Nankai University, Tianjin, China. His primary research areas include international economics, China’s foreign trade, and WTO.
Summary
This book focuses on the systematic change in the global economy accompanying the rise of China. Once China has the same huge and advanced economy as the U.S., the global economy’s current one-center system will have a chance to change: China will represent an alternative center. If it can satisfy essential criteria for the global economy such as a stable foreign exchange system, healthy international trade environment and strong support for economic development etc., China will be able to offer a viable alternative. In this constellation the two centers of the global economy and financial system, the U.S. and China, would ideally cooperate, and the global economy could benefit from having two economic and financial centers.
