The Great Rebalancing

  • by Michael Pettis
  • Narrated by A.T. Chandler
  • 7 hrs and 37 mins
  • Unabridged Audiobook

Publisher's Summary

China's economic growth is sputtering, the Euro is under threat, and the United States is combating serious trade disadvantages. Another Great Depression? Not quite. Noted economist and China expert Michael Pettis argues instead that we are undergoing a critical rebalancing of the world economies. Debunking popular misconceptions, Pettis shows that severe trade imbalances spurred on the recent financial crisis and were the result of unfortunate policies that distorted the savings and consumption patterns of certain nations. Pettis examines the reasons behind these destabilizing policies, and he predicts severe economic dislocations--a lost decade for China, the breaking of the Euro, and a receding of the U.S. dollar--that will have long-lasting effects.
Pettis explains how China has maintained massive--but unsustainable--investment growth by artificially lowering the cost of capital. He discusses how Germany is endangering the Euro by favoring its own development at the expense of its neighbors. And he looks at how the U.S. dollar's role as the world's reserve currency burdens America's economy. Although various imbalances may seem unrelated, Pettis shows that all of them--including the U.S. consumption binge, surging debt in Europe, China's investment orgy, Japan's long stagnation, and the commodity boom in Latin America--are closely tied together, and that it will be impossible to resolve any issue without forcing a resolution for all.
Demonstrating how economic policies can carry negative repercussions the world over, The Great Rebalancing sheds urgent light on our globally linked economic future.


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Customer Reviews

Most Helpful

A must book!

A must book for whose interested in finance, economy and geopolitics or world matters. Although the performance is excellent i recommend the paper or kindle version since the topics sometimes require reading back as well as seeing the formulas.
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- Basar Ergun

Calling all Republicans

This is for everyone who thinks they understand (but really doesn't)
balance of trade
exchange rates
interest rates
or for anyone who is worried about China or India or some other emerging market
or for anyone who thinks importing stuff from China is a bad thing for the US
or is worried about trade deficits

This is a really good book, might be worth a second read.
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- DS "Say something about yourself!"

Book Details

  • Release Date: 05-10-2013
  • Publisher: Audible Studios