Description
Some people might believe in the 'Thucydides Trap' that, as a rising power challenges the dominance of an established power, a China-U.S. trade war will be inevitable. Being the largest and the second largest trading nations globally, the U.S. and China are, in fact, each other's most important partner in trade.
In this book, Lau looks through various economic statistics of the past few decades and shows us that while the real effects of the China-U.S. trade war in 2018 are not negligible, they are relatively manageable for both nations. There is no need to panic despite psychological effects on the Chinese stock markets and on the Renminbi exchange rate. Behind the trade war is the potential economic and technological competition between China and the U.S., which is likely to become the 'new normal'.
It is up to each government battle against the rise of xenophobia, with the facts that China-U.S. economic collaboration is a potentially positive-sum game through better coordination and fully utilising each other's currently underutilised resources. Balancing China-U.S. trade and enhancing economic interdependence is actually possible.
About the Author
Lawrence J. Lau is Kwoh-Ting Li Professor in Economic Development, Emeritus, at Stanford University, and Ralph and Claire Landau Professor of Economics at The Chinese University of Hong Kong.
Reviews
"Everyone, everywhere, is potentially affected by events in the world's two largest economies, the United States and China. Lau's timely book is full of careful analysis, penetrating insight, and helpful suggestions from the world's preeminent economist on this relationship." - Michael J. Boskin, Stanford University
"This study should be read carefully by anyone working on these issues for their governments, for the press, as well as any individual citizen who wants to understand the issues." - Dwight H. Perkins, Harvard University
Book Information
ISBN 9789882371125
Author Lawrence J. Lau
Format Hardback
Page Count 224
Imprint The Chinese University Press
Publisher The Chinese University Press
Weight(grams) 666g
Dimensions(mm) 229mm * 152mm * 15mm
In this book, Lau looks through various economic statistics of the past few decades and shows us that while the real effects of the China-U.S. trade war in 2018 are not negligible, they are relatively manageable for both nations. There is no need to panic despite psychological effects on the Chinese stock markets and on the Renminbi exchange rate. Behind the trade war is the potential economic and technological competition between China and the U.S., which is likely to become the 'new normal'.
It is up to each government battle against the rise of xenophobia, with the facts that China-U.S. economic collaboration is a potentially positive-sum game through better coordination and fully utilising each other's currently underutilised resources. Balancing China-U.S. trade and enhancing economic interdependence is actually possible.
About the Author
Lawrence J. Lau is Kwoh-Ting Li Professor in Economic Development, Emeritus, at Stanford University, and Ralph and Claire Landau Professor of Economics at The Chinese University of Hong Kong.
Reviews
"Everyone, everywhere, is potentially affected by events in the world's two largest economies, the United States and China. Lau's timely book is full of careful analysis, penetrating insight, and helpful suggestions from the world's preeminent economist on this relationship." - Michael J. Boskin, Stanford University
"This study should be read carefully by anyone working on these issues for their governments, for the press, as well as any individual citizen who wants to understand the issues." - Dwight H. Perkins, Harvard University
Book Information
ISBN 9789882371125
Author Lawrence J. Lau
Format Hardback
Page Count 224
Imprint The Chinese University Press
Publisher The Chinese University Press
Weight(grams) 666g
Dimensions(mm) 229mm * 152mm * 15mm
