Preserving the Open Global Economic System: A Strategic Blueprint for China and the United States
When the new Chinese leader, Xi Jinping, meets with President Barack Obama this month, they will have a lot to talk about. In the economic sphere, the paramount challenge for the two leaders is to overcome what might be called the Kindleberger Conundrum: the preservation of the open, rules-based multilateral economic system against the background of the historic shift in which the rising power (China) might be unwilling to sustain it at a time when the declining power (the United States) is increasingly unable to single-handedly shoulder the burdens of leadership. The two nations must overcome their mutual wariness and strike a Power-for-Purpose Bargain: The United States would give up power in existing multilateral institutions in return for China taking on greater global leadership to preserve the system's real purpose.
|Date of creation:||Jun 2013|
|Contact details of provider:|| Postal: 1750 Massachusetts Avenue, NW, Washington, DC 20036-1903|
Web page: http://www.piie.com
More information through EDIRC
References listed on IDEAS
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.:
- Peter A. Petri & Michael Plummer, 2012. "The Trans-Pacific Partnership and Asia-Pacific Integration: Policy Implications," Policy Briefs PB12-16, Peterson Institute for International Economics.
- Douglas A. Irwin, 2011. "Peddling Protectionism: Smoot-Hawley and the Great Depression," Economics Books, Princeton University Press, edition 1, number 9430.
- Gary Clyde Hufbauer & Yee Wong & Ketki Sheth, 2006.
"US-China Trade Disputes: Rising Tides Rising Stakes,"
Peterson Institute Press: All Books,
Peterson Institute for International Economics, number pa78, January.
- Gary Clyde Hufbauer & Yee Wong & Ketki Sheth, 2006. "US-China Trade Disputes: Rising Tides Rising Stakes," Peterson Institute Press: Policy Analyses in International Economics, Peterson Institute for International Economics, number pa78, February.
- Edwin M. Truman, 2012. "John Williamson and the Evolution of the International Monetary System," Working Paper Series WP12-13, Peterson Institute for International Economics.
- Shekhar Aiyar & Romain A Duval & Damien Puy & Yiqun Wu & Longmei Zhang, 2013. "Growth Slowdowns and the Middle-Income Trap," IMF Working Papers 13/71, International Monetary Fund.
- Aaditya Mattoo & Arvind Subramanian, 2011.
"A China Round of Multilateral Trade Negotiations,"
Working Paper Series
WP11-22, Peterson Institute for International Economics.
When requesting a correction, please mention this item's handle: RePEc:iie:pbrief:pb13-16. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peterson Institute webmaster)
If references are entirely missing, you can add them using this form.