China, Asia, and the New World Economy
Barry Eichengreen, Yung Chul Park, and Charles Wyplosz
Abstract
The rise of Asia, and China specifically, is the single most important force reshaping the world economy at the beginning of the 21st century. From a low of 20% in 1950, Asia's share of global GDP has now risen to 33% and will exceed 40% within a generation if current forecasts are realized. Asia's growing weight in the world economy is elevating it to a central position in global economic and financial affairs. The potential global impact of this astonishing growth is far reaching, from oil markets and the environment to a reshaping of trade relations in the current multilateral system domina ... More
The rise of Asia, and China specifically, is the single most important force reshaping the world economy at the beginning of the 21st century. From a low of 20% in 1950, Asia's share of global GDP has now risen to 33% and will exceed 40% within a generation if current forecasts are realized. Asia's growing weight in the world economy is elevating it to a central position in global economic and financial affairs. The potential global impact of this astonishing growth is far reaching, from oil markets and the environment to a reshaping of trade relations in the current multilateral system dominated by the WTO. This collection of chapters written by leading economists explores the likely impact of the rapid growth in the East Asian economies, and in particular China, on the world economy in the coming decades and the consequent challenges for the development of trade, macroeconomic, and environmental policy.
Keywords:
world economy,
global GDP,
oil markets,
environment,
trade relations,
WTO,
rapid growth,
trade,
macroeconomic policy,
environmental policy
Bibliographic Information
| Print publication date: 2008 |
Print ISBN-13: 9780199235889 |
| Published to Oxford Scholarship Online: May 2008 |
DOI:10.1093/acprof:oso/9780199235889.001.0001 |
Authors
Affiliations are at time of print publication.
Barry Eichengreen, editor
George C. Pardee and Helen N. Pardee Professor of Economics and Political Science University of California, Berkeley
Author Webpage
Yung Chul Park, editor
Research Professor, Graduate School of International Studies, Seoul National University
Charles Wyplosz, editor
Professor, Graduate Institute of International Studies, Geneva
Author Webpage
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