Making Chimerica great again. (21st December 2018)
- Record Type:
- Journal Article
- Title:
- Making Chimerica great again. (21st December 2018)
- Main Title:
- Making Chimerica great again
- Authors:
- Ferguson, Niall
Xu, Xiang - Abstract:
- Abstract: A decade after the outbreak of the global financial crisis, a large trade imbalance between the world's two biggest economies, the U.S. and China, still exists and is more politically contentious than ever. This economic relationship, which we termed 'Chimerica' in 2007, seemed likely to end as a result of the global financial crisis. Yet this did not happen. In this paper, we examine the evolution of Chimerica in the aftermath of the global financial crisis and explain how the stimulus policies of both the U.S. and China have contributed to its survival. We show how stimulus policies helped change Chimerica from a marriage of opposites to a marriage of equals. We then explain why this marriage is now destined for strife, in the form of a trade war between the U.S. and China. The consequences of such a trade war would deeply impact the global economy. We believe constructive negotiations on trade rebalancing and policy coordination are therefore needed to avoid a disruptive end to Chimerica.
- Is Part Of:
- International finance. Volume 21:Number 3(2018)
- Journal:
- International finance
- Issue:
- Volume 21:Number 3(2018)
- Issue Display:
- Volume 21, Issue 3 (2018)
- Year:
- 2018
- Volume:
- 21
- Issue:
- 3
- Issue Sort Value:
- 2018-0021-0003-0000
- Page Start:
- 239
- Page End:
- 252
- Publication Date:
- 2018-12-21
- Subjects:
- International finance -- Periodicals
International economic relations -- Periodicals
Macroeconomics -- Periodicals
332.04205 - Journal URLs:
- http://www.blackwellpublishing.com/journal.asp?ref=1367-0271 ↗
http://onlinelibrary.wiley.com/ ↗
http://firstsearch.oclc.org ↗ - DOI:
- 10.1111/infi.12335 ↗
- Languages:
- English
- ISSNs:
- 1367-0271
- Deposit Type:
- Legaldeposit
- View Content:
- Available online (eLD content is only available in our Reading Rooms) ↗
- Physical Locations:
- British Library DSC - 4540.188450
British Library DSC - BLDSS-3PM
British Library HMNTS - ELD Digital store - Ingest File:
- 9283.xml