How China Loses

Author(s):  
Luke Patey

China wants to replace the United States as the world’s leading superpower. But what does the world want from China? In a new era of strategic competition between China and the United States, Luke Patey explores how the rest of the world is responding to China’s rise. Many fear that China’s economic power, tech innovations, and growing military might will allow it to remake the world in its own authoritarian image. But despite all its strengths, a future with China in charge is far from certain. China will rule the twenty-first century only if the world lets it. How China Loses tells the story of China’s struggles to overcome new risks and endure the global backlash against its assertive reach. Combining on-the-ground reportage with incisive analysis, Patey argues that China’s predatory economic agenda, headstrong diplomacy, and military expansion undermine its global ambitions. In travels to Africa, Latin America, East Asia, and Europe, his encounters with activists, business managers, diplomats, and thinkers show the challenges threatening China’s rising power. China’s relations with the outside world are reaching a critical juncture. Political differences and security tensions have risen, and many countries are now recognizing that economic engagement produces new strategic vulnerabilities to their competitiveness and autonomy. At a time when views from Washington and Beijing dominate the discussion, Patey’s work shows how perspectives from around the world will shape the global economy and world affairs.

2020 ◽  
pp. 1-15
Author(s):  
Luke Patey

China views the decline of the United States and the West as signal to advance its interests, norms, and values on the world stage. But sentiments that one superpower will replace another miss the bigger picture. China’s rise to the commanding heights of the global economy and world affairs is not preordained. Its potential evolution into a global superpower, with a deep presence and strong influence over economic, political, military, and culture abroad, will rather be conditioned by how China behaves toward the rest of the world, and how the world responds. The world’s other large economies, major militaries, technology leaders, and cultural hubs will be significant in shaping the future world. For developed and developing countries alike, there is recognition that economic engagement with China produces strategic vulnerabilities to their own competitiveness and foreign policy and defense autonomy. China will struggle to realize its political, economic, and military global ambitions.


2018 ◽  
Vol 74 (4) ◽  
pp. 402-419
Author(s):  
Krishnakumar S.

With Donald Trump as President of United States, multilateralism in the world economy is facing an unprecedented challenge. The international economic institutions that have evolved since the fifties are increasingly under the risk of being undermined. With the growing assertion of the emerging and developing economies in the international fora, United States is increasingly sceptical of its ability to maneuvre such institutions to suit its own purpose. This is particularly true with respect to WTO, based on “one country one vote” system. The tariff rate hikes initiated by the leader country in the recent past pose a serious challenge to the multilateral trading system. The paper tries to undertake a critical overview of the US pre-occupation of targeting economies on the basis of the bilateral merchandise trade surpluses of countries, through the trade legislations like Omnibus Act and Trade Facilitation Act. These legislations not only ignore the growing share of the United States in the growing invisibles trade in the world economy, but also read too much into the bilateral trade surpluses of economies with United States and the intervention done by them in the foreign exchange market.


2021 ◽  
pp. 106-131
Author(s):  
Ken Chih-Yan Sun

This chapter reveals older immigrants' strategies for grandparenthood that testify to the significance of temporalities of migration. It analyzes the interplay between the time aging immigrants spent in the United States and their observations of the changing global economy, which leads them to assign new meanings to intimate relations with their grandchildren. It also talks about how older immigrants developed new rights, responsibilities, obligations, and entitlements after welcoming grandchildren to the world. The chapter underscores gender as an organizing principle that informs the division of labor between grandfathers and grandmothers. It points out how older migrant women and men interpret their responsibilities, obligations, and commitments to a third generation in gender-specific ways, even if both value grandparenting.


2020 ◽  
Vol 9 (3) ◽  
pp. 181-186
Author(s):  
Jashim Uddin Ahmed ◽  
Ayesha Tahsin Ananya ◽  
Kazi Pushpita Mim ◽  
Asma Ahmed ◽  
Sarika Iqbal

Barbie in a wheelchair has heralded a new era in the magical world of Barbie. Mattel, one of the biggest toy manufacturers, has redefined the way Barbie has been portrayed to the world by introducing their new Black Barbie in a wheelchair. After years of innovation and trial and errors, it has proved that Barbie is not just a make-believe plaything or a representation of a singular aspect of beauty standards. These dolls should be relevant and wholesome when it comes to creating a bridge between customers and the brand itself. Mattel realized not too long ago the significance of inclusion, and now it has ended up hoisting a sensation in all of the United States and globally through the Internet and social media such as Twitter. The IDIC (Identify, Differentiate, Interact and Customize) model, which is an effective customer relationship management (CRM) tool, has been deployed by Mattel to demonstrate how Mattel cares for its customers. Mattel’s customer centrism, devotion towards innovation and inclusiveness are the key aspects which has rewarded the company with a whole new spectrum of acceptance from minority groups with a smile on their faces.


2020 ◽  
Vol 22 (3) ◽  
pp. 339-351
Author(s):  
Konstantin V. Blokhin

Article analyzes predictive estimates and concepts presented by the Western intellectual community, regarding prospects for development of new trends in the global economy, caused by the fourth industrial revolution. Author draws on a variety of sources, including reports from US think tanks, works by representatives of global financial and technocratic elite, and works by American intellectuals. Methodological basis of the study is a theory of the world system of I. Wallerstein, which allows to identify dynamic and conflicting lines of interaction between two geopolitical centers of the world - the United States and China. Based on an analysis of current trends, modern experts predict revolutionary changes in modern technologies that can decisively affect socio-political stability, not only in Western countries, but in developing countries as well. Author shows that the new technological structure is changing not only sector structure of the economy, but also has a strong impact on employment. According to American analysts, new technologies can destabilize socio-political stability in any country, especially in countries where cheap labor is a traditional tool. Robotization and automation of production can become a competitive advantage of the United States and Western countries in competition with China. Article notes that Russia is only at the very beginning of technological revolution, behind big five leading countries. Overcoming its lag in the field of AI and robotics requires adoption of comprehensive measures of economic, scientific and political nature. Ignoring realities of technological progress is fraught with increase in threats to national security.


Subject Prospects for the global economy to end-2019. Significance The world economy is likely to grow by around 3% this year. This is the lower end of the 3.0-3.5% range expected six months ago. World trade is weakening amid the US-China conflict and productivity is not picking up. China is expanding fiscal policy and others may follow, perhaps Germany and the United States. Monetary tightening is off the table and some countries may loosen policy. However, this will mainly shore up growth rather than raising it.


Author(s):  
Thomas Barfield

This book traces the historic struggles and the changing nature of political authority in this volatile region of the world—Afghanistan—from the Mughal Empire in the sixteenth century to the Taliban resurgence today. The book introduces readers to the bewildering diversity of tribal and ethnic groups in Afghanistan, explaining what unites them as Afghans despite the regional, cultural, and political differences that divide them. It shows how governing these peoples was relatively easy when power was concentrated in a small dynastic elite, but how this delicate political order broke down in the nineteenth and twentieth centuries when Afghanistan's rulers mobilized rural militias to expel first the British and later the Soviets. Armed insurgency proved remarkably successful against the foreign occupiers, but it also undermined the Afghan government's authority and rendered the country ever more difficult to govern as time passed. The book vividly describes how Afghanistan's armed factions plunged the country into a civil war, giving rise to clerical rule by the Taliban and Afghanistan's isolation from the world. It examines why the American invasion in the wake of September 11 toppled the Taliban so quickly, and how this easy victory lulled the United States into falsely believing that a viable state could be built just as easily. This book is essential reading for anyone who wants to understand how a land conquered and ruled by foreign dynasties for more than a thousand years became the “graveyard of empires” for the British and Soviets, and what the United States must do to avoid a similar fate.


2021 ◽  
pp. 159-160
Author(s):  
Samuel Cohn

This chapter reflects on the possibility of a sixth Mensch cycle. There have been five Mensch cycles: textiles, railroads, steel, automobiles, and computers. When the first four major products died, after long periods of stagnation, a new product emerged to revitalize the world economy. After the fifth Mensch cycle — personal computers and the internet — finally dies, it is difficult to know what the next big product will be, which might reestablish the global economy. It is also difficult to know what country will invent the next great innovation. If the United States wants there to be a sixth Mensch cycle, and if it wants the key invention to be developed in the United States, then protecting and maintaining America's scientific capacity is essential.


2012 ◽  
Vol 11 (1) ◽  
pp. 124-146 ◽  
Author(s):  
Warwick J. McKibbin ◽  
Andrew B. Stoeckel

The buildup in government debt in response to the “great recession,” has raised a number of policy dilemmas for individual countries as well as the world as a whole. The recent need for a change of fiscal policy stance has fuelled debates about the impact of fiscal consolidation on domestic economies that are tightening, the flow-on effects to the world economy, and also about how much tightening there should be and how quickly it should happen. This paper explores these issues in a global framework focusing on the national and global consequences of coordinated fiscal consolidation. It explores the implications this fiscal adjustment might have on country risk premia and what happens if all countries coordinate their fiscal adjustment except the United States. A coordinated fiscal consolidation in the industrial world that is not accompanied by U.S. actions is likely to lead to a substantial worsening of trade imbalances globally as the release of capital in fiscally contracting economies flows into the U.S. economy, appreciates the U.S. dollar, and worsens the current account position of the United States. The scale of this change is likely to be sufficient to substantially increase the probability of a trade war between the United States and other economies. To avoid this outcome, a coordinated fiscal adjustment is clearly in the interest of the global economy.


2017 ◽  
Vol 22 (6) ◽  
pp. 41-55
Author(s):  
Bogusław Ślusarczyk ◽  
Bożena Sowa

Economic crisis, which took place in the years 2008–2009, was one of the biggest cri-ses, which affected the world’s economy. It began in the United States, and then it moved through most countries in the world, especially the highly developed, and the effects of this crisis have been very painful for the entire global economy. It should be stressed that the framework of the economic crisis include the period 2008–2010, although its roots go back to an earlier period than 2008, and its consequences – accord-ing to the authors – will be felt for many years. In the wide range, the financial crisis referred to the economic collapse, caused by making the wrong decisions by the monetary authorities of individual countries, unskilful ac-tions of speculators and recession on the course of business cycle. Undoubtedly it was globalisation which contributed to such state, which has led to a great openness of economies, which in turn resulted in the transfer between all economic phenomena, both the positive and the negative. Moreover, globalisation caused the fact that crisis phenomena are growing strong, more and more noticeable and faster and faster move between individual countries. Trade and financial relations, and (perhaps most importantly) the panic in the markets, are responsible for this process.


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