| Description |
1 online resource (xvii, 285 pages) : illustrations (chiefly color) |
| Bibliography |
Includes bibliographical references and index. |
| Summary |
"The trade war and geopolitical issues have increased the risk of a financial decoupling between China and the US, the world's two largest economies. This book provides a thorough analysis of the major issues underlying the economic conflict and presents new factors coming into play as the global economy undergoes digital transformation As the trade war between the US and China escalates, with the US continuing to raise new tariffs on Chinese goods and China hitting back in kind, there seems to be no end in sight to the economic battle. The World Economy in Digital Times provides an in-depth discussion on this import tit-for-tat battle and sheds light on the various underlying issues whose scope is beyond the normal trade negotiations. On the surface, the economic dispute seems to have been brought about by globalization and protectionism. However, Raymond Yeung argues that the deeper reason behind this is the currency misalignment and the current global trade arrangement"-- Provided by publisher |
| Contents |
Cover -- Title Page -- Copyright Page -- Contents -- Acknowledgments -- About the Author -- Preface -- Chapter 1 An Unconventional Trade Feud -- 1.1 Thanos and Trump -- 1.2 What Causes the Trade War? -- 1.2.1 Trump's Unilateralism -- 1.2.2 A Stubbornly Large China Deficit -- 1.2.3 Unfair Trade Practices -- 1.2.4 "China Dream" vs. "America First" -- 1.3 The Novelty of This Trade War -- 1.3.1 The Art of Being Unpredictable -- 1.3.2 Breaking the Bulk in Tranches -- 1.3.3 A Battle for Technology -- 1.3.4 Leverage Geopolitical Issues -- 1.4 Economic Impacts and Consequences |
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1.4.1 Slowdown in Trade and Investment -- 1.4.2 Relocation of Production Base -- 1.4.3 Negative Impact on US Business and Consumers -- 1.5 Trade War and Deglobalization -- Annex A: China's Belt and Road Initiative -- Annex B: Official Statements from the US and China -- Annex C: Major Timeline of the Trade War -- Chapter 2 Trade Imbalances and the Greenback -- 2.1 The Missing Link between Trade and Currency -- 2.2 Stubbornly Persistent US Trade Deficits -- 2.2.1 Stylized Facts of the US Trade Balance -- 2.2.2 The Economics of Trade Balance -- 2.3 Is the Exchange Rate to Blame? |
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2.3.1 Currency Revaluation -- 2.3.2 Exchange Rate in Trade Talks -- 2.4 Exorbitant Privilege of the Dollar -- 2.4.1 Triffin Dilemma -- 2.4.2 Quantitative Easing -- 2.5 Dollar Recycling and the Global Saving Glut -- 2.5.1 Petrodollar Recycling -- 2.5.2 China's Factory-Dollar Recycling -- Chapter 3 Deglobalization Prompts De-Dollarization -- 3.1 Anti-Multilateralism and Anti-Sovereign Movement -- 3.2 The Globalization Cycle -- 3.2.1 Globalization 1820-1914 -- 3.2.2 Postwar Globalization -- 3.3 Currency Globalization -- 3.3.1 Financial Integration and the Hubs |
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3.3.2 Currency Standard and Trade Bloc -- 3.4 Financial Deglobalization -- 3.4.1 Capital Mobility and Financial Crises -- 3.4.2 Financial Crises and Populism -- 3.5 End of Cycle: De-Dollarization -- 3.5.1 The Transition Regime -- 3.5.2 De-Dollarization and the Trade War -- Chapter 4 China-US Financial Decoupling -- 4.1 Trade War and the Yuan -- 4.2 The Yuan in the Monetary Policy Context -- 4.2.1 Reforms in the Transitional Period 1979-2004 -- 4.2.2 A Tightly Managed Floating Regime 2005-2015 -- 4.2.3 Managed Floating Post "811" -- 4.2.4 Currency Outlook and Reforms |
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4.3 Globalizing the RMB in the Deglobalizing World -- 4.3.1 De-Dollarization -- 4.3.2 RMB Internationalization -- 4.4 Reserve Diversification10 -- 4.4.1 China's Holding of US Dollar Assets -- 4.4.2 Alternative Assets -- Chapter 5 A Race on the Digital Turf -- 5.1 Reform and Technology Independence -- 5.2 China's Structural Challenges -- 5.2.1 Demographic Challenge and Overleveraging -- 5.2.2 Supply-Side Structural Reforms -- 5.3 China's Digital Economy -- 5.3.1 Digitalization and Structural Rebalancing -- 5.3.2 China's Tech Policy -- 5.4 The Tech Rush and the Little Chips |
| Subject |
Trump, Donald, 1946-
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Trump, Donald, 1946- |
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Tariff -- China.
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Tariff -- United States.
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China -- Commerce -- United States.
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United States -- Commerce -- China.
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China -- Foreign economic relations -- United States.
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United States -- Foreign economic relations -- China.
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Tarif douanier -- Chine. |
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États-Unis -- Commerce -- Chine. |
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Commerce |
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International economic relations |
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Tariff |
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China |
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United States |
| Other Form: |
Print version: Yeung, Raymond Y.T. China's Trump card. First edition. Hoboken : Wiley, 2020 9781119699125 (DLC) 2020025712 |
| ISBN |
9781119699156 (electronic book) |
|
1119699150 (electronic book) |
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9781119699149 (electronic book) |
|
1119699142 (electronic book) |
|
9781119699163 (electronic bk.) |
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1119699169 (electronic bk.) |
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(hardcover) |
| Standard No. |
16773385 |
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