Description
Book SynopsisDealing with a topic that has attracted significant media attention, this highly accessible book provides a detailed analysis of the trade dispute between China and the US.
While the Americans accuse China of damaging their economy, the Chinese claim their policies are legitimate and that the US has no right to dictate how the Chinese economy should be run. Imad Moosa addresses contentious issues including: whether the Chinese currency is undervalued, whether the undervaluation of the yuan, should it exist, is the cause of the US trade deficit with China (hence revaluation being a justifiable cure) and whether Chinese economic policies are immoral and illegal according to IMF and WTO rules.
This challenging and thought provoking book will prove a stimulating read for academics, researchers, students and policymakers with an interest in international economics, international finance, political economy and Asian studies.
Trade ReviewImad Moosa reminds us that there are at least two sides to a relationship - including those in trade - and that failure of a relationship is rarely due to one side alone. Moosa handles the technicalities of exchange rates dexterously but reminds us constantly of the wider context of the trade relationships that determine them. --Paul Rule, La Trobe University, Melbourne, Australia
Table of ContentsContents: Preface 1. An Overview 2. The International Monetary System 3. International Trading and Financial Relations 4. Exchange Rate Misalignment 5. The Cause and Cure: Simple Numerical Illustrations 6. The Effect of Exchange Rate Adjustment on the Trade Balance 7. Why Revaluation of the Yuan will not Work 8. The Morality and Legality of Chinese Policies 9. The US Trade Deficit as an American Problem: Leveraged Over-Indulgence 10. The US Trade Deficit as an American Problem: Saving and Economic Structure 11. Concluding Thoughts References Index
