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Book:Eclipse : living in the shadow of China's economic dominance / Arvind Subramanian.:2011. Book Eclipse : living in the shadow of China's economic dominance / Arvind Subramanian.
Eclipse : living in the shadow of China's economic dominance / Arvind Subramanian.
Author: Subramanian, Arvind
Publication year: 2011.
Language: English
Call Number HC427.95 .S83 2011
Media class: Book
Publisher: Washington, DC : Peterson Institute for International Economics
ISBN: 9780881326062 0881326062 9780881326260 0881326267
Notes:
"September 2011."
Extent: xvii, 216 p. : ill. ; 23 cm.
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Description:
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.
Introduction -- 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'être for reviving multilateralism -- Postscript : America resurgent or America vulnerable?

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