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Eclipse [electronic resource] : living in the shadow of China's economic dominance / Arvind Subramanian.

By: Subramanian, Arvind.
Material type: TextTextPublisher: Washington, DC : Peterson Institute for International Economics, 2011Description: 1 online resource (xvii, 216 p.) : ill.ISBN: 9780881326345 (electronic bk.); 0881326348 (electronic bk.).Subject(s): Economic development -- China | Economic development -- United States | Economic forecasting -- China | Economic forecasting -- United States | International economic relations | BUSINESS & ECONOMICS / Economic Conditions | BUSINESS & ECONOMICS / Economic History | BUSINESS & ECONOMICS / Economics / Comparative | POLITICAL SCIENCE / Economic ConditionsGenre/Form: Electronic books.Additional physical formats: Print version:: Eclipse.DDC classification: 330.951 Online resources: EBSCOhost
Contents:
A brief history of economic dominance -- Quantification and validation of economic dominance -- Quantifying currency dominance -- Forces driving dominance : convergence and gravity -- Projecting economic and currency dominance -- A historical perspective on China's distinctive dominance -- Guarding against rash prophesying -- Economic cooperation with a rising China -- China as the new raison d'etre for reviving multilateralism -- America resurgent or America vulnerable?
Summary: In his new book, Arvind Subramanian presents the following possibilities: What if, contrary to common belief, China's economic dominance is a present-day reality rather than a faraway possibility? What if the renminbi's takeover of the dollar as the world's reserve currency is not decades, but mere years, away? And what if the United States's economic pre-eminence is not, as many economists and policymakers would like to believe, in its own hands, but China's to determine? Subramanian's analysis is based on a new index of economic dominance grounded in a historical perspective. His examination makes use of real-world examples, comparing China's rise with the past hegemonies of Great Britain and the United States. His attempt to quantify and project economic and currency dominance leads him to the conclusion that China's dominance is not only more imminent, but also broader in scope, and much larger in magnitude, than is currently imagined. He explores the profound effect this might have on the United States, as well as on the global financial and trade system. Subramanian concludes with a series of policy proposals for other nations to reconcile China's rise with continued openness in the global economic order, and to insure against China becoming a malign hegemon.
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"September 2011."

Includes bibliographical references and index.

A brief history of economic dominance -- Quantification and validation of economic dominance -- Quantifying currency dominance -- Forces driving dominance : convergence and gravity -- Projecting economic and currency dominance -- A historical perspective on China's distinctive dominance -- Guarding against rash prophesying -- Economic cooperation with a rising China -- China as the new raison d'etre for reviving multilateralism -- America resurgent or America vulnerable?

Description based on print version record.

In his new book, Arvind Subramanian presents the following possibilities: What if, contrary to common belief, China's economic dominance is a present-day reality rather than a faraway possibility? What if the renminbi's takeover of the dollar as the world's reserve currency is not decades, but mere years, away? And what if the United States's economic pre-eminence is not, as many economists and policymakers would like to believe, in its own hands, but China's to determine? Subramanian's analysis is based on a new index of economic dominance grounded in a historical perspective. His examination makes use of real-world examples, comparing China's rise with the past hegemonies of Great Britain and the United States. His attempt to quantify and project economic and currency dominance leads him to the conclusion that China's dominance is not only more imminent, but also broader in scope, and much larger in magnitude, than is currently imagined. He explores the profound effect this might have on the United States, as well as on the global financial and trade system. Subramanian concludes with a series of policy proposals for other nations to reconcile China's rise with continued openness in the global economic order, and to insure against China becoming a malign hegemon.

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Eclipse by Subramanian, Arvind. ©2011
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