What do you think?
Rate this book
China, Trade and Power: Why the West's Economic Engagement Has Failed
From a Western point of view, the policy of economic engagement with China has failed. A rapid rise in living standards in China has helped legitimize and strengthen the Chinese Communist Party’s power. How did Western, market-orientated, property-owning, liberal democracies go from being in a position of complete global
hegemony in the early 1990s to the current crisis of confidence and loss of moral foundation?
This book tells the story of the most successful trading nation of the early twenty-first century. It looks at how the Communist Party of China has retained and cemented its monopoly on political power since China’s accession to the World Trade Organization in December 2001. It is the most extraordinary economic success
story of our time and it has reshaped the geopolitics not just of Asia but of the world. As China has come to dominate global manufacturing, its economic power has been translated into political power, and the West now has a global rival that is politically antithetical to liberal values.
The supply-side deflation from allowing 750 million low-cost workers into the global trading system combined with the policy of inflation targeting by Western central banks has led to falling real incomes for many in the West and rising asset prices that have benefited the few. Worse still, China’s mercantilist model is now
held up as a viable economic alternative.
To have a fighting chance of protecting the freedoms of liberal democracies, it is of the utmost importance that we understand how the policy of indulgent engagement with China has affected Western society in recent years. Only then can the global trading system be reoriented for the mutual benefit of all nations.
hegemony in the early 1990s to the current crisis of confidence and loss of moral foundation?
This book tells the story of the most successful trading nation of the early twenty-first century. It looks at how the Communist Party of China has retained and cemented its monopoly on political power since China’s accession to the World Trade Organization in December 2001. It is the most extraordinary economic success
story of our time and it has reshaped the geopolitics not just of Asia but of the world. As China has come to dominate global manufacturing, its economic power has been translated into political power, and the West now has a global rival that is politically antithetical to liberal values.
The supply-side deflation from allowing 750 million low-cost workers into the global trading system combined with the policy of inflation targeting by Western central banks has led to falling real incomes for many in the West and rising asset prices that have benefited the few. Worse still, China’s mercantilist model is now
held up as a viable economic alternative.
To have a fighting chance of protecting the freedoms of liberal democracies, it is of the utmost importance that we understand how the policy of indulgent engagement with China has affected Western society in recent years. Only then can the global trading system be reoriented for the mutual benefit of all nations.
176 pages, Hardcover
Published October 18, 2018
3 people are currently reading
70 people want to read
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 4 of 4 reviews
October 27, 2020
A gut-wrenching book on US-China tarde relations. It uncovers how the West’s misconceptions about China’s dictatorship and its future and the corporate lobby foreseeable rewards made way to China’s WTO accession in 2001. From a macroeconomic point of view, it explains the dire economic consequences of such a poorly conceived political and economic move. It raises questions about the future, about how this problem should be dealt with. Are tariffs and quotas all that bad? There will sure be winners and losers within the West, but one thing is certain it will be a strenuous ride.
May 18, 2019
A trenchant warning about how the U.S. has let the dictatorship in Beijing steal our economic future.
April 11, 2020
A short book heavy on macroeconomics, but good insights and specific to China only. Trade, currencies, policies - provides a good background.
Currently reading
August 24, 2020I want to read this book but it can't downloaded by me
Displaying 1 - 4 of 4 reviews