1. False Hopes for Chinese Economic "Integration"
- Author:
- John Lee
- Publication Date:
- 04-2012
- Content Type:
- Policy Brief
- Institution:
- East-West Center
- Abstract:
- In a recent online article in Foreignpolicy.com, regular columnist and head of the Economic Strategy Institute, Clyde Prestowitz, argued that the next president of the World Bank should be Zhou Xiaochuan, Chairman of the People's Bank of China. For Prestowitz, it was not just Zhou's excellent credentials that made him ideal for the position, but also the fact that he is Chinese. China is accurately accused of “gaming” the global economic liberal order through its currency policies, restricted market access for outside firms and governments, and internal intervention in the economy to the detriment of foreign firms. But Prestowitz believes that such an appointment would significantly encourage China to behave as a “responsible stakeholder.” Behind this thinking is the argument that the more power, prestige, and authority China accumulates within the existing order, the more liberal Chinese economic policies will become.
- Topic:
- Democratization, Economics, International Trade and Finance, Markets, and Monetary Policy
- Political Geography:
- China