www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / View

Rethinking Sino-US ties

By Stephen S. Roach (China Daily) Updated: 2014-07-08 07:27

Senior US and Chinese officials will gather in Beijing for the sixth Strategic and Economics Dialogue (S& ED). With bilateral frictions mounting on a number of fronts - including cyber security, territorial disputes in the East China Sea and South China Sea and currency policy - the summit offers an opportunity for a serious reconsideration of the relationship between the world's two most powerful economies.

The United States and China are locked in an uncomfortable embrace - the economic counterpart of what psychologists call "codependency". The association started in the late 1970s, when China was recovering from the "cultural revolution" (1966-76) and the US was mired in a wrenching stagflation. Desperate for economic growth, two needy countries entered into a partnership on the economic front.

China benefited from an export-led economic model that was critically dependent on the US as its largest source of demand. The US gained by turning to China for low-cost goods that helped income-constrained consumers make ends meet; it also imported surplus savings from China to fill the void of an unprecedented shortfall of domestic savings, with the deficit prone US drawing freely on China's voracious appetite for Treasury securities.

Over time, this association morphed into a full-blown and inherently unhealthy codependency. Both partners took the relationship for granted and pushed unbalanced growth models too far - the US with its asset and credit bubbles that underpinned a record consumption binge, and China with an export-led resurgence that was ultimately dependent on America's consumption bubble.

The imbalances only worsened. China's three decades of 10 percent annual growth led to unsustainable strains - outsize resource and energy needs, environmental degradation and pollution, and mounting income inequality. Huge Chinese current account surpluses resulted from too much savings and too little consumption.

Rethinking Sino-US ties Rethinking Sino-US ties
China, US to discuss yuan, monetary policy this week
Top 10 US companies in China

Previous Page 1 2 3 Next Page

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 成人免费大片黄在线观看com | 亚洲精品片 | 精品欧美一区二区三区精品久久 | 精品国产亚洲一区二区三区 | 2022免费国产精品福利在线 | 国产在线观看精品一区二区三区91 | 99热久久精品免费精品 | 中文在线三级中文字幕 | 精品国产一区二区三区在线 | 国产舐足视频在线观看 | 国内精品久久久久久网站 | 亚洲精品高清视频 | 99国产福利视频在线观看 | 日韩一级欧美一级 | 日韩免费一区二区三区 | 中文国产成人精品久久久 | 欧美日韩一区二区不卡三区 | 久久毛片久久毛 | 寡妇一级毛片 | 国产三级做爰在线观看视频 | 日韩特级毛片免费观看视频 | 男女视频免费在线观看 | 国产精品分类视频分类一区 | 国产嫩草影院在线观看 | 国产理论视频 | 日韩国产欧美在线观看一区二区 | 色综合久久久久久久 | 国产成人精品免费久久久久 | 国产成人精品高清在线观看99 | 国产精品亚洲精品 | 91国内精品久久久久怡红院 | 久久久www免费看片 久久久www免费人成看片 | 亚洲社区在线 | 97在线观看视频免费 | 欧美 日韩 国产 成人 在线观看 | 欧美成人久久 | a级午夜毛片免费一区二区 a级性生活视频 | 亚洲美女视频在线观看 | 在线免费观看国产视频 | 免费乱码中文字幕网站 | 91香蕉国产观看免费人人 |