{"product_id":"the-great-rebalancing-michael-pettis-9780691158686","title":"The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the World Economy","description":"\u003cp\u003e\u003cb\u003eHow trade imbalances spurred on the global financial crisis and why we aren't out of trouble yet\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eChina's economic growth is sputtering, the Euro is under threat, and the United States is combating serious trade disadvantages. Another Great Depression? Not quite. Noted economist and China expert Michael Pettis argues instead that we are undergoing a critical rebalancing of the world economies. Debunking popular misconceptions, Pettis shows that severe trade imbalances spurred on the recent financial crisis and were the result of unfortunate policies that distorted the savings and consumption patterns of certain nations. Pettis examines the reasons behind these destabilizing policies, and he predicts severe economic dislocations--a lost decade for China, the breaking of the Euro, and a receding of the U.S. dollar--that will have long-lasting effects. \u003cp\u003e\u003c\/p\u003ePettis explains how China has maintained massive--but unsustainable--investment growth by artificially lowering the cost of capital. He discusses how Germany is endangering the Euro by favoring its own development at the expense of its neighbors. And he looks at how the U.S. dollar's role as the world's reserve currency burdens America's economy. Although various imbalances may seem unrelated, Pettis shows that all of them--including the U.S. consumption binge, surging debt in Europe, China's investment orgy, Japan's long stagnation, and the commodity boom in Latin America--are closely tied together, and that it will be impossible to resolve any issue without forcing a resolution for all. \u003cp\u003e\u003c\/p\u003eDemonstrating how economic policies can carry negative repercussions the world over, \u003ci\u003eThe Great Rebalancing\u003c\/i\u003e sheds urgent light on our globally linked economic future.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Michael Pettis\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 0691158681\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9780691158686\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Princeton University Press\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 01\/22\/2013\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 232\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.11lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.30h x 6.42w x 0.90d\u003cbr\u003e\u003cbr\u003e\u003cb\u003eReview Citation(s): \u003c\/b\u003e\u003cbr\u003e\u003ci\u003ePublishers Weekly\u003c\/i\u003e 12\/10\/2012\u003cbr\u003e\u003ci\u003eChoice\u003c\/i\u003e 07\/01\/2013","brand":"Michael Pettis","offers":[{"title":"Hardcover","offer_id":48112951787775,"sku":"9780691158686","price":35.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_0cffd276-fea2-470a-be00-013fad0a89d0.jpg?v=1769612050","url":"https:\/\/www.whiterainbookhouse.com\/products\/the-great-rebalancing-michael-pettis-9780691158686","provider":"WR Book House","version":"1.0","type":"link"}