Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
The Chinese Birdcage: How China's Rise Almost Toppled the West

The Chinese Birdcage: How China's Rise Almost Toppled the West

Mees, Heleen

Paperback

EconomicsChinese History

Publisher Price: $49.99

ISBN10: 1137588888
ISBN13: 9781137588883
Publisher: Springer Nature
Published: Oct 10 2016
Pages: 197
Weight: 0.58
Height: 0.46 Width: 5.83 Depth: 8.27
Language: English
This book vividly describes how China's rise in the early 2000s led to rising profits and declining labor income everywhere, ultimately resulting in the global financial crisis. Under Deng Xiaoping's policy of 'reform and opening up' in the 1980s, China quickly became the world's factory floor...but powerful political leaders envisioned a world in which the market economy would be trapped within the confines of a planned economy. With China's admission into the World Trade Organization in 2001, almost a billion people joined the global workforce, driving down the real wages of blue- and white-collar workers in the US and Europe while also lowering interest rates, which fueled housing bubbles and destabilized the financial sector. This book explores China's significant influence on western economies by focusing on the links between the labor market, corporate profits, and interest rates, using Arthur Lewis's framework for economic growth with unlimited supplies of labor to argue that by2010 the world economy - and political situations - had been set back almost one hundred years.

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