The Great Rebalancing

Michael Pettis is professor of finance and economics at Peking University, a senior associate at the Carnegie Endowment, and a widely read commentator on China, Europe, and the global economy. He is the author of The Volatility Machine: Emerging Economies and the Threat of Financial Collapse.

出版者:Princeton University Press

作者:Michael Pettis

页数:216

出版时间:2013-1-22

价格:USD 29.95

装帧:Hardcover

isbn号码:9780691158686

图书标签:经济金融经济学中国研究中国经济美国政治MichaelPettis

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China's economic growth is sputtering, the Euro is under threat, and the United States is combating serious trade disadvantages. Another Great Depression? Not quite. Noted economist and China expert Michael Pettis argues instead that we are undergoing a critical rebalancing of the world economies. Debunking popular misconceptions, Pettis shows that severe trade imbalances spurred on the recent financial crisis and were the result of unfortunate policies that distorted the savings and consumption patterns of certain nations. Pettis examines the reasons behind these destabilizing policies, and he predicts severe economic dislocations--a lost decade for China, the breaking of the Euro, and a receding of the U.S. dollar--that will have long-lasting effects. Pettis explains how China has maintained massive--but unsustainable--investment growth by artificially lowering the cost of capital. He discusses how Germany is endangering the Euro by favoring its own development at the expense of its neighbors. And he looks at how the U.S. dollar's role as the world's reserve currency burdens America's economy. Although various imbalances may seem unrelated, Pettis shows that all of them--including the U.S. consumption binge, surging debt in Europe, China's investment orgy, Japan's long stagnation, and the commodity boom in Latin America--are closely tied together, and that it will be impossible to resolve any issue without forcing a resolution for all. Demonstrating how economic policies can carry negative repercussions the world over, The Great Rebalancing sheds urgent light on our globally linked economic future.

用户评价

在我看来在这本书貌似更像个读后感，接触Michael本人多了才能体会到这些感觉的来源到底来自何处，对于启发和思考都很有帮助，尽管你发现你的想法有时和他并不完全一样。

外行表示不明觉厉。。似乎要先去补补宏观经济学

外行表示不明觉厉。。似乎要先去补补宏观经济学

外行表示不明觉厉。。似乎要先去补补宏观经济学

需要認真學習。重复太多，写几篇论文/blog显然是作者更喜欢的方式。 美国，近欧国家，德，中，日案例学习，不太清楚具体情况现在是什么，可是没有作者期待的解决方案在真的实行吧（起码中国是烷）。非常有帮助的基本框架。