The Codependency of America and China
Yale University Press, 9780300187175, 344pp.
Publication Date: January 28, 2014
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In Unbalanced: The Codependency of America and China Stephen Roach, senior fellow at Yale University and former chairman of Morgan Stanley Asia, lays bare the pitfalls of the current China-U.S. economic relationship. He highlights the conflicts at the center of current tensions, including disputes over trade policies and intellectual property rights, sharp contrasts in leadership styles, the role of the Internet, the recent dispute over cyberhacking, and more.
A firsthand witness to the Asian financial crisis of the late 1990s, Roach likely knows more about the U.S.-China economic relationship than any other Westerner. Here he discusses:
- Why America saving too little and China saving too much creates mounting problems for both
- How China is planning to re-boot its economic growth model by moving from an external export-led model to one of internal consumerism with a new focus on service industries
- How America, shows a disturbing lack of strategy, preferring a short-term reactive approach over a more coherent Chinese-style planning framework
- The way out: what America could do to turn its own economic fate around and position itself for a healthy economic and political relationship with China