Imbalance and Rebalance: To Create a New Framework of Global Governance

Description

This book focuses on global financial systems. After summarising historical financial institutions, it subsequently uses economic and econometrical models to analyse the strengths and weaknesses of these institutions and their role in the history. Readers, especially international readers, will be introduced to prominent Chinese scholars’ ideas and views on these issues. The perspective of this book is, of course, a Chinese one. As such, readers will learn how Chinese people view global financial systems, even those dominated by the West, what they think about future global finance, etc. As such, the book offers intriguing and revealing insights for researchers and a broader readership alike. Front Matter ....Pages i-xvi Front Matter ....Pages 1-4 The Rise and Fall of Monetary Hegemony (Yang Li, Xiaojing Zhang)....Pages 5-30 The Warring States (Yang Li, Xiaojing Zhang)....Pages 31-61 Front Matter ....Pages 63-65 Transformation of International Division of Labor and Global Imbalances (Yang Li, Xiaojing Zhang)....Pages 67-95 Innovation of Technology, Changes in Productivity, and Global Imbalances (Yang Li, Xiaojing Zhang)....Pages 97-116 Front Matter ....Pages 117-118 Internal and External Imbalances and Currency Hegemony (Yang Li, Xiaojing Zhang)....Pages 119-149 Front Matter ....Pages 151-153 Two Myths of Rebalancing (Yang Li, Xiaojing Zhang)....Pages 155-176 Monetary Statecraft and Profits of Dollar Hegemony (Yang Li, Xiaojing Zhang)....Pages 177-197 International Monetary Policy Coordination: Theories and Reality (Yang Li, Xiaojing Zhang)....Pages 199-234 Front Matter ....Pages 235-235 Moving Towards a New Balance (Yang Li, Xiaojing Zhang)....Pages 237-254 Back Matter ....Pages 255-257