The Chinese Birdcage
ISBN:
9781137588883
Auflage:
1st ed. 2016
Verlag:
Palgrave Macmillan US
Land des Verlags:
Vereinigte Staaten
Erscheinungsdatum:
10.10.2016
Format:
Softcover
Seitenanzahl:
197
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This book vividly describes how China’s rise in the early 2000s led to rising profits and declining labor income everywhere, ultimately resulting in the global financial crisis. Under Deng Xiaoping’s policy of ‘reform and opening up’ in the 1980s, China quickly became the world’s factory floor...but powerful political leaders envisioned a world in which the market economy would be trapped within the confines of a planned economy. With China’s admission into the World Trade Organization in 2001, almost a billion people joined the global workforce, driving down the real wages of blue- and white-collar workers in the US and Europe while also lowering interest rates, which fueled housing bubbles and destabilized the financial sector. This book explores China’s significant influence on western economies by focusing on the links between the labor market, corporate profits, and interest rates, using Arthur Lewis's framework for economic growth with unlimited supplies of labor to argue that by2010 the world economy – and political situations – had been set back almost one hundred years.
Schlagwörter
Biografische Anmerkung
Heleen Mees was Adjunct Associate Professor at New York University's Wagner Graduate School of Public Policy. She is a columnist for the Dutch daily De Volkskrant and she writes opinion articles for various international publications including Foreign Policy, The Financial Times, Project Syndicate, and NRC Handelsblad.
The Political Economy of India's Economic Development: 5000BC to 2022AD, Volume I
Erscheinungsjahr:
2023
