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Author: Stewart Paterson
Publisher: London Publishing Partnership
ISBN: 1907994823
Category : Business & Economics
Languages : en
Pages : 175
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Book Description
From a Western point of view, the policy of economic engagement with China has failed. A rapid rise in living standards in China has helped legitimize and strengthen the Chinese Communist Party’s power. How did Western, market-orientated, property-owning, liberal democracies go from being in a position of complete global hegemony in the early 1990s to the current crisis of confidence and loss of moral foundation? This book tells the story of the most successful trading nation of the early twenty-first century. It looks at how the Communist Party of China has retained and cemented its monopoly on political power since China’s accession to the World Trade Organization in December 2001. It is the most extraordinary economic success story of our time and it has reshaped the geopolitics not just of Asia but of the world. As China has come to dominate global manufacturing, its economic power has been translated into political power, and the West now has a global rival that is politically antithetical to liberal values. The supply-side deflation from allowing 750 million low-cost workers into the global trading system combined with the policy of inflation targeting by Western central banks has led to falling real incomes for many in the West and rising asset prices that have benefited the few. Worse still, China’s mercantilist model is now held up as a viable economic alternative. To have a fighting chance of protecting the freedoms of liberal democracies, it is of the utmost importance that we understand how the policy of indulgent engagement with China has affected Western society in recent years. Only then can the global trading system be reoriented for the mutual benefit of all nations.
Author: Stewart Paterson
Publisher: London Publishing Partnership
ISBN: 1907994823
Category : Business & Economics
Languages : en
Pages : 175
Get Book Here
Book Description
From a Western point of view, the policy of economic engagement with China has failed. A rapid rise in living standards in China has helped legitimize and strengthen the Chinese Communist Party’s power. How did Western, market-orientated, property-owning, liberal democracies go from being in a position of complete global hegemony in the early 1990s to the current crisis of confidence and loss of moral foundation? This book tells the story of the most successful trading nation of the early twenty-first century. It looks at how the Communist Party of China has retained and cemented its monopoly on political power since China’s accession to the World Trade Organization in December 2001. It is the most extraordinary economic success story of our time and it has reshaped the geopolitics not just of Asia but of the world. As China has come to dominate global manufacturing, its economic power has been translated into political power, and the West now has a global rival that is politically antithetical to liberal values. The supply-side deflation from allowing 750 million low-cost workers into the global trading system combined with the policy of inflation targeting by Western central banks has led to falling real incomes for many in the West and rising asset prices that have benefited the few. Worse still, China’s mercantilist model is now held up as a viable economic alternative. To have a fighting chance of protecting the freedoms of liberal democracies, it is of the utmost importance that we understand how the policy of indulgent engagement with China has affected Western society in recent years. Only then can the global trading system be reoriented for the mutual benefit of all nations.
Author: Paul Blustein
Publisher: McGill-Queen's Press - MQUP
ISBN: 1928096867
Category : Business & Economics
Languages : en
Pages : 248
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Book Description
China's entry into the World Trade Organization (WTO) in 2001 was heralded as historic, and for good reason: the world's most populous nation was joining the rule-based system that has governed international commerce since World War II. But the full ramifications of that event are only now becoming apparent, as the Chinese economic juggernaut has evolved in unanticipated and profoundly troublesome ways. In this book, journalist Paul Blustein chronicles the contentious process resulting in China's WTO membership and the transformative changes that followed, both good and bad - for China, for its trading partners, and for the global trading system as a whole. The book recounts how China opened its markets and underwent far-reaching reforms that fuelled its economic takeoff, but then adopted policies - a cheap currency and heavy-handed state intervention - that unfairly disadvantaged foreign competitors and circumvented WTO rules. Events took a potentially catastrophic turn in 2018 with the eruption of a trade war between China and the United States, which has brought the trading system to a breaking point. Regardless of how the latest confrontation unfolds, the world will be grappling for decades with the challenges posed by China Inc.
Author: Aaron L. Friedberg
Publisher: John Wiley & Sons
ISBN: 1509545131
Category : Political Science
Languages : en
Pages : 171
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Book Description
The West's strategy of engagement with China has failed. More than three decades of trade and investment with the advanced democracies have left that country far richer and stronger than it would otherwise have been. But growth and development have not caused China's rulers to relax their grip on political power, abandon their mercantilist economic policies, or accept the rules and norms of the existing international system. To the contrary: China today is more repressive at home, more aggressive abroad, and more obviously intent on establishing itself as the world’s preponderant power than at any time since the death of Chairman Mao. What went wrong? Put simply, the democracies underestimated the resilience, resourcefulness, and ruthlessness of the Chinese Communist Party. For far too long, the United States and its allies failed to take seriously the Party's unwavering determination to crush opposition, build national power, and fulfill its ideological and geopolitical ambitions. In this timely and powerfully argued study, Aaron Friedberg identifies the assumptions underpinning engagement, describes the counterstrategy that China's Communist Party rulers devised in order to exploit the West's openness while defeating its plans, and explains what the democracies must do now if they wish to preserve their prosperity, protect their security, and defend their common values.
Author: Andrew Scobell
Publisher: Rand Corporation
ISBN: 1977404200
Category : History
Languages : en
Pages : 155
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Book Description
To explore what extended competition between the United States and China might entail out to 2050, the authors of this report identified and characterized China’s grand strategy, analyzed its component national strategies (diplomacy, economics, science and technology, and military affairs), and assessed how successful China might be at implementing these over the next three decades.
Author: James Fanell
Publisher: Simon and Schuster
ISBN: 1648210600
Category : Political Science
Languages : en
Pages : 237
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Book Description
For decades, the United States has underestimated the threat from the People’s Republic of China (PRC). In doing so, it has left our country vulnerable to their devious plans—a profound, strategic miscalculation. As a result of this carelessness, the United States is at risk of losing its dominant position in global politics. But how did this happen? How was it possible that the US could lose its dominant position after its Cold War victory and allow the rise of a peer enemy over a short period of time—about thirty years? In Embracing Communist China, authors James E. Fanell and Bradley A. Thayer get to the bottom of this heinous miscalculation. Broken down into three central arguments, Fanell and Thayer lay out not only the reason for China’s rise in power, but how the United States could have prevented it. Due to failures on the parts of the national security commission, strategists, military personnel, and the intelligence community, a historical case of “threat deflation” caused our country to refute all supplied information of China’s growing power. By not taking this seriously, the PRC has risen with the goal of usurping the US as a global superpower. US business interests and financiers trumped strategy. Seeing China as a source of cheap labor for manufacturing, investment, and intellectual labor—including for research and development—the mighty dollar’s influence reigned supreme, overlooking the big picture. With their advancements, China used its political warfare strategy to promote threat deflation under Deng Xiaoping. As such, the PRC—learning key lessons from the Soviet Union’s mistakes in the Cold War—focused on elites from all aspects of US and other Western societies, enriching them and shaping their perception of China and of Chinese Communist Party (CCP) while using the enticement of a growing market to influence their behavior. As Americans, we can no longer think of China as a secondary power, but one that is looking to remove the US as the most powerful country in the world. By understanding the profound strategic failures made by the US are we are able to correct them and so defeat the PRC as the we did the Soviet Union.
Author: Petros C. Mavroidis
Publisher: Princeton University Press
ISBN: 0691206597
Category : Business & Economics
Languages : en
Pages : 262
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Book Description
"China's accession to the World Trade Organisation (WTO) in 2001 was hailed as the natural conclusion of a long march that started with the reforms introduced by Deng Xiaoping in the 1970s. However, China's participation in the WTO since joining has been anything but smooth, and its self-proclaimed "socialist market economy" system has alienated many of its global trading partners - as recent tensions with the United States exemplify. Prevailing diplomatic attitudes tend to focus on two diametrically opposing approaches to dealing with the emerging problems: the first is to demand that China completely overhaul its economic regime; the second is to stay idle and accept that the WTO must accommodate different economic regimes, no matter how idiosyncratic and incompatible. In this book, Mavroidis and Sapir propose a third approach. They point out that, while the WTO (as well as its predecessor, the General Agreement on Tariffs and Trade [GATT]) has previously managed the accession of socialist countries or of big trading nations, it has never before dealt with a country as large or as powerful as China. Therefore, in order to simultaneously uphold its core principles and accommodate China's unique geopolitical position, the authors argue that the WTO needs to translate some of its implicit legal understanding into explicit treaty language. Focusing on two core complaints - that Chinese state-owned enterprises (SOEs) benefit from unfair trade advantages, and that domestic companies (both private as well as SOEs) impose forced technology transfer on foreign companies as a condition for accessing the Chinese market - they lay out their specific proposals for successful legislative amendment"--.
Author: Lianchao Han
Publisher: Taylor & Francis
ISBN: 1000720985
Category : Political Science
Languages : en
Pages : 114
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Book Description
This book examines the contours of the Sino-American confrontation and its future trajectories. It delineates the two major causes of the friction in Sino-American relations—change in the balance of power in China’s favor and the conf licting ideologies of the two states—and emphasizes why it is imperative for the U.S. to hold on to its ideological principles. It demonstrates the ultimate and irreconcilable gap in the visions the two competitors have for international politics and consequently why conf lict—certainly cold, and very possibly hot—is inevitable. The authors also suggest measures which the U.S. can adopt to sustain its leadership and deter China’s ideology and vision for the future of global politics. A significant contribution to the study of Sino-American relations, the volume will be of interest to scholars and researchers of international relations, foreign policy, and U.S. and Chinese politics. It will be of great interest to think tanks, public policy professionals, and the interested general reader.
Author: Robert Gmeiner
Publisher: Springer Nature
ISBN: 3030747093
Category : Business & Economics
Languages : en
Pages : 303
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Book Description
This book evaluates the institutional environments of China and the United States, and the West more broadly, and how they affect their trading relationship, with specific emphasis on intellectual property theft and other allegations of unfair competition. The economic and political characteristics of the two countries affect the balance of power in their trading relationship, with ramifications far beyond jobs and output. The major theme is China’s ability to free ride on Western institutions through intellectual property theft and extortion. This free riding is far more than just infringing patents and reaping profits; it creates a combination of incentives for political pressures in the West that diminish the free market and liberal Western values. The result is the classic result of free riding – underprovision, or degeneration, of the Western institutions that made the West prosperous and free. At the same time, China’s economic might, military prowess, and global soft power increase, often with deleterious effects for freedom and free markets. This book is distinctive because it integrates public choice ideas about economic institutions, state action, and strategic behavior into international trade. It also takes account of the economic characteristics of China and the West and explains why they present a situation that is fundamentally different from other trade disputes. Institutions and political influence are central to this book’s analysis of trade, which can be more dangerous and more disguised than the welfare gains from trade. Providing a concise and lucid distillation of pressing issues, this book is critical reading for scholars studying trade with China and its effects on both global and Western innovation, economic output, soft power, and freedom more broadly.
Author: Douglas A. Irwin
Publisher: Princeton University Press
ISBN: 0691203369
Category : Business & Economics
Languages : en
Pages : 366
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Book Description
An updated look at global trade and why it remains as controversial as ever Free trade is always under attack, more than ever in recent years. The imposition of numerous U.S. tariffs in 2018, and the retaliation those tariffs have drawn, has thrust trade issues to the top of the policy agenda. Critics contend that free trade brings economic pain, including plant closings and worker layoffs, and that trade agreements serve corporate interests, undercut domestic environmental regulations, and erode national sovereignty. Why are global trade and agreements such as the Trans-Pacific Partnership so controversial? Does free trade deserve its bad reputation? In Free Trade under Fire, Douglas Irwin sweeps aside the misconceptions that run rampant in the debate over trade and gives readers a clear understanding of the issues involved. In its fifth edition, the book has been updated to address the sweeping new policy developments under the Trump administration and the latest research on the impact of trade.
Author: Jonathan Holslag
Publisher: John Wiley & Sons
ISBN: 150954674X
Category : History
Languages : en
Pages : 313
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Book Description
1989 ushered in a new age of freedom and prosperity. Thirty years later, the golden era is over. What went wrong? How did the age of globalization – of growing connectivity, affluence, and growth – give way? Jonathan Holslag navigates through the calm seas and rip tides of global politics from the Cold War to Russia's invasion of Ukraine. He tells a story of faltering momentum and squandered opportunities that explains how the West's sources of strength were lost to rising consumerism, unbalanced trade, and half-hearted diplomatic engagement. All the while, other powers, like China and Russia, grew stronger. With his trademark verve, Holslag untangles the threads of this story to reveal that it was not so much the ambition of China, the cunning of Putin, or the greed of African strongmen that led the world into this dark place; it was the failure of the West to listen to its people, to show clear leadership, and reinvent itself, in spite of ample evidence that things were going awry.
