Explaining US–China economic imbalances: a social perspective
Source PublicationCambridge Review of International Affairs
ISSN1474449X 09557571
AbstractChina has witnessed a continual drop in the labour income share of its gross domestic product (GDP) and a steep rise in income that has caused a savings glut and high investments. China’s shrinking domestic demand indicates that its output growth must increasingly rely on expanded manufacturing exports to the US. China’s state accommodation for US offshoring further aggravates trade imbalances between the two countries. The United States is also experiencing a rise in social inequality associated with a decline in savings that is a fundamental cause of its current-account deficit with China. The swelling US service sector interacts with a high ratio of consumption to income, and the liberal US policy for cost outsourcing to China has a complicated impact on employment and an adverse effect on inequality.
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Cited Times [WOS]:3   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionUniversity of Macau
Corresponding AuthorSheng,Li
AffiliationUniversity of Macau,Macao
First Author AffilicationUniversity of Macau
Corresponding Author AffilicationUniversity of Macau
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GB/T 7714
Sheng,Li. Explaining US–China economic imbalances: a social perspective[J]. Cambridge Review of International Affairs,2019,29(3):1097-1111.
APA Sheng,Li.(2019).Explaining US–China economic imbalances: a social perspective.Cambridge Review of International Affairs,29(3),1097-1111.
MLA Sheng,Li."Explaining US–China economic imbalances: a social perspective".Cambridge Review of International Affairs 29.3(2019):1097-1111.
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