A groundbreaking exploration of US-China relations as seen through the lens of international finance
Rising tensions between China and the United States have kept the financial markets on edge as a showdown between the world’s two largest economies seems inevitable. But what most people fail to recognise is the major impact that the financial markets themselves have had on the creation and acceleration of the conflict.
In Financial Cold War: A View of Sino-US Relations from the Financial Markets, market structure and geopolitical finance expert James Fok explores the nuances of China-US relations from the perspective of the financial markets. The book helps readers understand how imbalances in the structure of global financial markets have singularly contributed to frictions between the two countries.
In this book, readers will find:
- A comprehensive examination of the development of financial markets in both China and the US, as well as the current US dollar-based global financial system
- Insightful observations of the roles of technology, innovation, regulation, taxation, and politics in the markets, and on their resulting effect on US-Sino relations
- Thorough explorations of the role of Hong Kong as an intermediary for capital flows between China and the rest of the world
- Suggestions for how, balancing the many varying interests, policymakers might be able to devise effective strategies for de-escalating current Sino-US tensions
Financial Cold War is a can’t-miss resource for anyone personally or professionally interested in the intersection of economics and international relations, financial markets, and the infrastructure underlying the international financial system.
Author(s): James A. Fok
Publisher: Wiley
Year: 2021
Language: English
Pages: 512
City: Hoboken
Cover
Title Page
Copyright Page
Contents
Preface
Acknowledgements
Chapter 1 Introduction
Legacy of the GFC
Modern History of Sino-US Relations
The Financial Roots of Sino-US Conflict
The Financial Path Out of Conflict
Part One The Colour of Money Turns Green
Chapter 2 How the US Dollar Took Over the World
An Ad Hoc Position
The Barbarous Relic
Two Competing Plans
A British Innovation
The Coupon Express
Plumbing the World’s Financial Markets
Niksonu Shokku
Volatility
‘Risk Free’ Assets
Boom and Bust
Chapter 3 Whose Problem?
The Unipolar Moment
The Almighty Mr. Market
Emerging Markets Crises
The Weakest Link
The Music Stops
Anyone for Tea?
A Tipping Point?
Part Two Capitalism with Chinese Characteristics
Chapter 4 From First World to Third and Back Again
Maritime Power
The Milk of Paradise
Wars and Revolutions
A Leap into the Abyss
Herding Cats
Crackdown
Journeys to the South
A New Path
The Bird’s Nest
Chapter 5 Two Steps Forward, One Step Back
Going Public
The Protection Racket
The Price of Money
Still Building, But Will They Come?
Alien Attack
Who Will Look After Grandma?
Connecting China and the World
Can’t Buy Me Love
Part Three The Financial Cold War
Chapter 6 A New Cold War?
A Close Call
Fly Me to the Moon
Tax Me If You Can
A War of Words?
Geo-economic Warfare
Chapter 7 The Role of Markets in the 21st Century
Selective Efficiency
What Happens When Competition Dies
Wrong Incentives
Bubbles and Cycles
Funny Money
We’re All in the Same Boat
Chapter 8 Avoiding theThucydides Trap
Admitting the Problems
A New Bretton Woods?
MAD for Markets
It All Starts with Leadership
Afterword
Cast of Characters
Bibliography
Notes
Preface
Chapter 1: Introduction
Chapter 2: How the US Dollar Took Over the World
Chapter 3: Whose Problem?
Chapter 4: From First World to Third and Back Again
Chapter 5: Two Steps Forward, One Step Back
Chapter 6: A New Cold War?
Chapter 7: The Role of Markets in the 21st Century
Chapter 8: Avoiding the Thucydides Trap
Afterword
Index
EULA
