U.S., China, and the Unraveling of Global Imbalances
AbstractSince 2003, world economic growth has accelerated and there has been strong improvement in corporate profitability. The U.S. current account deficits and China’s dramatic economic rise have been the two pillars underpinning the current global economic expansion. The coming years are likely to see the unraveling of the external and internal imbalances of the U.S. economy and the Chinese economy has been characterized by excessive dependence on investment and exports. Whether global economic expansion can be sustained to a large extent depends on whether the Chinese economy can be successfully restructured to be led by domestic consumption and to effectively address the question of long-term ecological sustainability.
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Bibliographic InfoPaper provided by Political Economy Research Institute, University of Massachusetts at Amherst in its series Working Papers with number wp146.
Date of creation: 2007
Date of revision:
Neoliberalism; Global Economy; US Current Account Deficit; Chinese Economy; Peak Oil;
Find related papers by JEL classification:
- E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
- F01 - International Economics - - General - - - Global Outlook
- O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
- Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Andong Zhu & Minqi Li, 2005. "Neoliberalism, Global Imbalances, and Stages of Capitalist Development," Working Papers wp110, Political Economy Research Institute, University of Massachusetts at Amherst.
- James Crotty, 2000. "Trading State-Led Prosperity for Market-Led Stagnation: From the Golden Age to Global Neoliberalism," Published Studies ps7, Political Economy Research Institute, University of Massachusetts at Amherst.
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