tailieunhanh - The Economic and Geo-Political Implications of China-Centric Globalization

To begin building the regional partnership during this first phase, economic development professionals guide the leadership team through an exercise of mapping a region’s assets. Individual leaders rarely have the complete grasp of all the different economic development assets within a region. Mapping these assets— literally marking them on a wall-sized map of the region—can help leaders see the future in a new way. Mapping regional assets goes beyond compiling lists of economic development assets. Critically, the team’s conversations must focus on how the region’s assets can be linked to create new opportunities. The economic development professional might focus on. | New America Foundation The Economic and Geo-Political Implications of China-Centric Globalization Thomas I. Palley New America Foundation February 2012 Introduction The last 30 years have witnessed the era of globalization which has been marked by the creation of an integrated global economy. Globalization has been the product of both policy and market forces and . policymakers have persistently been in the vanguard. However what began as a project of globalization has been transformed with little explicit public discussion into a project of China-centric globalization. China-centric globalization is characterized by three features 1 the emergence of China as the global center of manufacturing with China playing the role of factory for the world 2 the creation of a new dollar zone shared by the . and China and enforced by China s adoption of an exchange rate pegged to the dollar 3 the development of China as the fulcrum of . engagement with the global economy with the . having a massive trade deficit with China and transferring significant chunks of manufacturing capacity to China. Globalization has always been controversial but China-centric globalization has made it even more so. Globalization poses challenges for the character of America s economy for the goal of shared prosperity and for . national security. China -centric globalization amplifies these concerns by aggravating adverse economic tendencies within the globalization process and NEW AMERICA FOUNDATION PAGE 1 by raising additional national security concerns about dependence on China with whom the . still has an uncertain geopolitical relationship. Looking into the future the current path of China-centric globalization poses a threat to both . economic recovery and global growth and development. It has not only hindered American attempts to escape from the post-bubble recession that began in December 2007 but it has also threatened to block future attempts to recalibrate and .

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