The Chinese Birdcage : How China's Rise Almost Toppled the West / by Heleen Mees.
Mees, Heleen, author.
2016
HT388
Available Online

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Title The Chinese Birdcage : How China's Rise Almost Toppled the West / by Heleen Mees.
Author Mees, Heleen, author.
ISBN 9781137588869 (electronic book)
1137588861 (electronic book)
1137588853
9781137588852
9781137588883
DOI https://doi.org/10.1057/978-1-137-58886-9
Published New York : Palgrave Macmillan US : Imprint : Palgrave Macmillan, 2016.
Language English
Description 1 online resource (xvi, 197 pages) : illustrations
Other Standard Identifiers 10.1057/978-1-137-58886-9 doi
Call Number HT388
Dewey Decimal Classification 338.9
Summary 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 by 2010 the world economy -- and political situations -- had been set back almost one hundred years.
Bibliography, etc. Note Includes bibliographical references and index.
Access Note Access limited to authorized users.
Digital File Characteristics text file PDF
Available in Other Form Print version: 9781137588883
Linked Resources Online Access
Record Appears in Online Resources > Ebooks
All Resources
1 The Chinese Birdcage
2 Western Triumphalism
3 China as the World's Factory
4 Housing Bubbles across the Western Hemisphere
5 The Global Financial Crisis
6 The Economic Fallout
7 Unlimited Supplies of Labor
8 China's Economic Development
9 Global Imbalances and Corporate Cash Piles
10 The Capitalist Surplus and the Shortfall in Demand
11 Piketty Reconsidered
12 What Lies Ahead?

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