Cargando…

China's Trump card : cryptocurrency and its game-changing role in Sino-US trade /

"The trade war and geopolitical issues have increased the risk of a financial decoupling between China and the US, the world's two largest economies. This book provides a thorough analysis of the major issues underlying the economic conflict and presents new factors coming into play as the...

Descripción completa

Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Yeung, Raymond Y. T. (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Hoboken, NJ : John Wiley & Sons, Inc., 2020.
Temas:
Acceso en línea:Texto completo (Requiere registro previo con correo institucional)
Tabla de Contenidos:
  • Cover
  • Title Page
  • Copyright Page
  • Contents
  • Acknowledgments
  • About the Author
  • Preface
  • Chapter 1 An Unconventional Trade Feud
  • 1.1 Thanos and Trump
  • 1.2 What Causes the Trade War?
  • 1.2.1 Trump's Unilateralism
  • 1.2.2 A Stubbornly Large China Deficit
  • 1.2.3 Unfair Trade Practices
  • 1.2.4 "China Dream" vs. "America First"
  • 1.3 The Novelty of This Trade War
  • 1.3.1 The Art of Being Unpredictable
  • 1.3.2 Breaking the Bulk in Tranches
  • 1.3.3 A Battle for Technology
  • 1.3.4 Leverage Geopolitical Issues
  • 1.4 Economic Impacts and Consequences
  • 1.4.1 Slowdown in Trade and Investment
  • 1.4.2 Relocation of Production Base
  • 1.4.3 Negative Impact on US Business and Consumers
  • 1.5 Trade War and Deglobalization
  • Annex A: China's Belt and Road Initiative
  • Annex B: Official Statements from the US and China
  • Annex C: Major Timeline of the Trade War
  • Chapter 2 Trade Imbalances and the Greenback
  • 2.1 The Missing Link between Trade and Currency
  • 2.2 Stubbornly Persistent US Trade Deficits
  • 2.2.1 Stylized Facts of the US Trade Balance
  • 2.2.2 The Economics of Trade Balance
  • 2.3 Is the Exchange Rate to Blame?
  • 2.3.1 Currency Revaluation
  • 2.3.2 Exchange Rate in Trade Talks
  • 2.4 Exorbitant Privilege of the Dollar
  • 2.4.1 Triffin Dilemma
  • 2.4.2 Quantitative Easing
  • 2.5 Dollar Recycling and the Global Saving Glut
  • 2.5.1 Petrodollar Recycling
  • 2.5.2 China's Factory-Dollar Recycling
  • Chapter 3 Deglobalization Prompts De-Dollarization
  • 3.1 Anti-Multilateralism and Anti-Sovereign Movement
  • 3.2 The Globalization Cycle
  • 3.2.1 Globalization 1820-1914
  • 3.2.2 Postwar Globalization
  • 3.3 Currency Globalization
  • 3.3.1 Financial Integration and the Hubs
  • 3.3.2 Currency Standard and Trade Bloc
  • 3.4 Financial Deglobalization
  • 3.4.1 Capital Mobility and Financial Crises
  • 3.4.2 Financial Crises and Populism
  • 3.5 End of Cycle: De-Dollarization
  • 3.5.1 The Transition Regime
  • 3.5.2 De-Dollarization and the Trade War
  • Chapter 4 China-US Financial Decoupling
  • 4.1 Trade War and the Yuan
  • 4.2 The Yuan in the Monetary Policy Context
  • 4.2.1 Reforms in the Transitional Period 1979-2004
  • 4.2.2 A Tightly Managed Floating Regime 2005-2015
  • 4.2.3 Managed Floating Post "811"
  • 4.2.4 Currency Outlook and Reforms
  • 4.3 Globalizing the RMB in the Deglobalizing World
  • 4.3.1 De-Dollarization
  • 4.3.2 RMB Internationalization
  • 4.4 Reserve Diversification10
  • 4.4.1 China's Holding of US Dollar Assets
  • 4.4.2 Alternative Assets
  • Chapter 5 A Race on the Digital Turf
  • 5.1 Reform and Technology Independence
  • 5.2 China's Structural Challenges
  • 5.2.1 Demographic Challenge and Overleveraging
  • 5.2.2 Supply-Side Structural Reforms
  • 5.3 China's Digital Economy
  • 5.3.1 Digitalization and Structural Rebalancing
  • 5.3.2 China's Tech Policy
  • 5.4 The Tech Rush and the Little Chips