The Future of the Sino-American Co-Dependency

摘要: The crisis of 2008 has shown the unsustainability global imbalances centered on USChina symbiotic relationship that characterized previous decade. This revived so-called growth-rebalancing debate. In particular, new emerging consensus calls for a re-orientation US economy away from consumption and toward exports, policy shifts can help China to reduce its dependence external demand inefficiently high rates capital accumulation. this essay, we discuss economic political feasibility proposed patterns re-adjustment by focusing short- long-term trade-offs faced policymakers. We argue rebalancing will be gradual partial because costs associated with radical shift in growth strategies both countries. also believe scenario consistent world expanding at lower than past