Trade

The Chinese and U.S. economies have been locked in an uncomfortable embrace since the late 1970s. Although the relationship initially arose out of mutual benefits, in recent years it has taken on the trappings of an unstable codependence, with the two largest economies in the world losing their sense of self, increasing the risk of their turning on one another in a destructive fashion.In Unbalanced: The Codependency of America and China Stephen Roach lays bare the pitfalls of the current China-U.S. economic relationship. He highlights the conflicts at the center of current tensions, including disputes over trade policies and intellectual property rights, sharp contrasts in leadership styles, the role of the Internet, the recent dispute over cyberhacking, and more.A firsthand witness to the Asian financial crisis of the late 1990s, Roach likely knows more about the U.S.-China economic relationship than any other Westerner. Here he discusses:Why America saving too little and China saving too much creates mounting problems for bothHow China is planning to re-boot its economic growth model by moving from an external export-led model to one of internal consumerism with a new focus on service industriesHow America shows a disturbing lack of strategy, preferring a short-term reactive approach over a more coherent Chinese-style planning frameworkThe way out: what America could do to turn its own economic fate around and position itself for a healthy economic and political relationship with ChinaIn the wake of the 2008 crisis, both unbalanced economies face urgent and mutually beneficial rebalancings. Unbalanced concludes with a recipe for resolving the escalating tensions of codependence. Roach argues that the Next China offers much for the Next America—and vice versa.—Yale University Press{chop}

In the past thirty years, China has transformed from an impoverished country where peasants comprised the largest portion of the populace to an economic power with an expanding middle class and more megacities than anywhere else on earth. This remarkable transformation has required, and will continue to demand, massive quantities of resources. Like every other major power in modern history, China is looking outward to find them.In By All Means Necessary, Elizabeth C. Economy and Michael Levi explore the unrivaled expansion of the Chinese economy and the global effects of its meteoric growth. China is now engaged in a far-flung quest, hunting around the world for fuel, ores, water, and land for farming, and deploying whatever it needs in the economic, political, and military spheres to secure the resources it requires. Chinese traders and investors buy commodities, with consequences for economies, people, and the environment around the world. Meanwhile the Chinese military aspires to secure sea lanes, and Chinese diplomats struggle to protect the country’s interests abroad. And just as surely as China’s pursuit of natural resources is changing the world—restructuring markets, pushing up commodity prices, transforming resource-rich economies through investment and trade—it is also changing China itself. As Chinese corporations increasingly venture abroad, they must navigate various political regimes, participate in international markets, and adopt foreign standards and practices, which can lead to wide-reaching social and political ramifications at home.Clear, authoritative, and provocative, By All Means Necessary is a sweeping account of where China’s pursuit of raw materials may take the country in the coming years and what the consequences will be—not just for China, but for the whole world. —Oxford University Press{chop}