The effect of the financial crisis on the Sino-American symbiosis and the need for revaluation of the Renminbi
Publisher: GRIN Verlag
Category: Political Science
Seminar paper from the year 2016 in the subject Business economics - Economic Policy, grade: 1,0, Edinburgh Napier University, language: English, abstract: The symbiotic relationship between China and America, also referred to as Chimerica, was built upon mutual advantages, such as a boost in exports for China in return for cheap credit provided to America. However, during the financial crisis it became apparent that the relationship had caused international economic imbalances, especially due to the incapacitation of the Dollar-Renminbi exchange rate mechanism. This essay will analyse the relationship of China and America, and elaborate on the potential for an end of Chimerica with a focus on the role of the financial crisis. Furthermore, it will discuss whether there is a need for revaluating the Renminbi (RMB) and provide an assessment of Chimerica’s future prospects. The literature can be divided into liberal internationalist and nationalistic views. This essay follows a liberal view, but intends to give a balanced view.
A powerful, provocative play about international relations and the shifting balance of power between East and West. Tiananmen Square, 1989. As tanks roll through Beijing and soldiers hammer on his hotel door, Joe - a young American photojournalist - captures a piece of history. New York, 2012. Joe is covering a presidential election, marred by debate over cheap labor and the outsourcing of American jobs to Chinese factories. When a cryptic message is left in a Beijing newspaper, Joe is driven to discover the truth behind the unknown hero he captured on film. Who was he? What happened to him? And could he still be alive? A gripping political examination and an engaging personal drama, Chimerica examines the changing fortunes of two countries whose futures will shape the whole world.
In the fictional country of Chimerica, down-and-out Tamil American triallawyer Maya Ramesh fights to save a painted lemur come to life, and in settings that range from Oakland, California, to a Malagasy rain forest, becomes a champion for them both. In magical realist tradition Anita Felicelli's sprawling and satiric novel, CHIMERICA, looks at the inherentabsurdities that drive systems of culture, power, and law. Fans of Marquez, Kelly Link, and Helen Oyeyemi will find CHIMERICA a spirited investigation of the ways in which art is codified and commodified-a contemporary philosophical, non-ideological, novel about art, originality, and American culture.Praise for Anita Felicelli: "At last, someone is telling our stories in a unique and interesting way," Shikha Malaviya, India Currents. "Anita Felicelli has a singular eye for the moment that transfigure lives¿" Laura Van Den Berg, author of The Third Hotel. "Felicelli creates a kind of conversation with the reader, allowing one to submerge into her fictional worlds and then return to the surface with new understandings about the world we live in today," S. Kirk Walsh, SF Chronicle.
For the better part of the past decade, the world economy has been dominated by a world economic order that combined Chinese export-led development with US over-consumption. The financial crisis of 2007-2009 likely marks the beginning of the end of the Chimerican relationship. In this paper we look at this era as economic historians, trying to set events in a longer-term perspective. In some ways China's economic model in the decade 1998-2007 was similar to the one adopted by West Germany and Japan after World War II. Trade surpluses with the U.S. played a major role in propelling growth. But there were two key differences. First, the scale of Chinese currency intervention was without precedent, as were the resulting distortions of the world economy. Second, the Chinese have so far resisted the kind of currency appreciation to which West Germany and Japan consented. We conclude that Chimerica cannot persist for much longer in its present form. As in the 1970s, sizeable changes in exchange rates are needed to rebalance the world economy. A continuation of Chimerica at a time of dollar devaluation would give rise to new and dangerous distortions in the global economy.
INTERCULTURAL COMMUNICATION: A READER explores how communication values and styles can vary across cultures and communities, providing a thorough introduction to current theory while outlining practical strategies for more effective, culturally aware communication. INTERCULTURAL COMMUNICATION: A READER conveys the idea that successful intercultural communication is a matter of highest importance if humankind and society are to survive. This broad-based and highly engaging reader, compiled by the authors who defined the course, includes a balanced selection of articles--some commissioned solely for this text--that discusses the classic ideas that laid the groundwork for this field, as well as the latest research and ideas. Material is presented in a context that allows students to read, understand, and then apply course concepts to their lives. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.
Ben Mah’s book is an excellent warning of the problems — indeed, economic depth charges — that were planted in China by the neoliberals who have destroyed nearly every economy where their advice was followed. Ben Mah’s “China and the World” describes what China should accept and what it should reject in Western advice. Michael Hudson: Distinguished Professor of Economics at the University of Missouri Mr. Ben Mah is an acute observer. This book explodes the myth of “China’s Rise”, reveals the truth about how China’s economic policies have been misguided by neoliberalism. This is a good book that anyone concerned about China’s future should not miss. Genliang Jia, Professor, People’s University of ChinaAndong Zhu The essays in this book deserve great attention. Dajun Zhong, renowned economist Mr. Mah’s work could help us re-think the related policies and eliminate the influence of neoliberal ideology. Andong Zhu, Director, Qinghua University, China Mr. Mah’s work is a biting revelation of the unpleasant reality that lies behind such currently popular buzzwords as “privatization”, “marketization”, ”freedom of capital flow” and ”free trade”. Haibo Liu Chinese Academy of Social Sciences
China Joins Global Governance: Cooperation and Contentions, edited by Mingjiang Li, provides a comprehensive and insightful examination of China’s role in global governance. The contributors make a significant contribution to the scholarly debate on the impacts of China’s rise on the stability and future evolution of the international system.
This extensive Handbook provides an in-depth exploration of the political economy dynamics associated with the international monetary and financial systems. Leading experts offer a fresh take on research into the interaction between system structure, t