In his book The Reckoning Michael Moran explores the intricate nature of arguably the most important economic relationship in the world today.
The most important economic relationship in the world—that between the United States and China —is widely regarded as a one-way street, benefiting China and undermining the United States. But this is a simplistic view. In fact, China’s dependency on the American market and commercial innovations represents a huge vulnerability for Beijing as it makes its way toward the centre of the global stage. Along with its increasing dependence on imported energy, persistent internal unrest and a susceptibility to bouts of inflation, China’s pushmipullyu relationship with America presents terrible dilemmas for Beijing’s communist leadership.
In spite of the alarmist headlines, China’s rise as an economic giant, and eventually a military and diplomatic competitor to American power, is taking place under terms that the United States can influence and even...
- Moran, Michael, The Reckoning. Debt, Democracy, and the Future of American Power. Palgrave Macmillan, 2012.Google Scholar