The triad in crisis: What we learned and how it will change global cooperation
AbstractThis paper reviews the propagation of the 2008-2009 financial crisis through China, Japan and the United States (the "triad") and analyzes the responses of these countries from the viewpoints of achieving recovery and returning to a growth path that will be free of the imbalances that limit long-term sustainability. For a variety of reasons, the triad countries are both key protagonists in the crisis, and central agents in the recovery from it. Greater cooperation among them will be important to ensure that the recovery that emerges leads to a sustainable growth path. Their actions are important also because they can have great influence on the responses of other countries. The paper concludes with an overview of areas in which cooperation is especially desirable.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Asian Economics.
Volume (Year): 20 (2009)
Issue (Month): 6 (November)
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Web page: http://www.elsevier.com/locate/asieco
Financial crisis Rebalancing Economic cooperation;
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