Peterson Institute Press

Greece's exit may become the euro's envy | Financial Times op-ed by Arvind Subramanian

Arvind Subramanian, author of Eclipse: Living in the Shadow of China's Economic Dominance and co-author of Who Needs to Open the Capital Account?, has published an op-ed in the Financial Times concerning a Greek exit from the euro area.

Pieter Bottelier Reviews Nicholas Lardy's Book in SAIS Review

Nicholas R. Lardy's book Sustaining China's Economic Growth After the Global Financial Crisis has been reviewed in SAIS Review Volume 32, Number 1, Winter-Spring 2012: "This is an important and amazingly detailed review of China's economic policies since around 2004 and of major policy challenges facing the government...vintage Lardy: long on analysis and numbers and (very) short on opinion unsupported by the facts." - Pieter Bottelier, Senior Adjunct Professor of China Studies at Johns Hopkins University, SAIS

See pages 189-192 for Pieter Bottelier's full Review entitled "A Breath of Fresh Air, but Questions About the Meaning of China's Economic Imbalances Remain."

Eclipse, Subramanian featured on CNBC's Squawk Box | China Can Prevent a Hard Landing

While in Singapore Arvind Subramanian was on CNBC's Squawk Box to explain why there is a low probability of a hard landing in China, and that Beijing has the means to prevent such a scenario. Subramanian's book Eclipse: Living in the Shadow of China's Economic Dominance is also featured in the interview.

Eclipse is "...a slim volume dealing with a gigantic topic"

International Affairs, Volume 88, Issue 3 has reviewed Eclipse: Living in the Shadow of China's Economic Dominance by Arvind Subramanian.

"This is a slim volume dealing with a gigantic topic. The bold and blunt title of this book captures the reader's attention in the long-dragging economic winter of the West, starting in the fourth quarter of 2008 from Wall Street, the heartland of modern capitalism for at least a century. Arvind Subramanian demonstrates rather convincingly that in the past decade or so, the world economic order has changed in favour of the rise of China as the new economic superpower. Not only that, Subramanian explicitly predicts an era of economic Pax Sinicana to replace the old Pax Americana, which will be the most upsetting and most significant development in the twenty-first-century world."

See page 636 for the full book review.

Upcoming US-China Strategic and Economic Dialogue

The US-China Strategic and Economic Dialogue will be held May 3-4, 2012 in Beijing. You will find a variety of quality research and analysis on China in our bookstore online. Here are some of our recent releases:

Who Needs to Open the Capital Account?

Sustaining China's Economic Growth After the Global Financial Crisis

Eclipse: Living in the Shadow of China's Economic Dominance

China's Rise: Challenges & Opportunities

Nicholas Lardy's Book Reviewed by Foreign Affairs

Sustaining China's Economic Growth After the Global Financial Crisis by Nicholas R. Lardy has been reviewed in the May/June 2012 issue of Foreign Affairs.

New Book | The United States Should Establish Permanent Normal Trade Relations with Russia

In the coming year, Congress is likely to face a critical vote on granting Permanent Normal Trade Relations (PNTR) to Russia in connection with its impending membership to the World Trade Organization (WTO). A "yes" on PNTR for Russia could set the tone for economic relations between the United States and Russia for the next decade, and would give the global agenda of trade and investment liberalization a fresh boost, as Russia is the last major economy to join the WTO. Congressional failure to permanently normalize trade relations would likely have broad consequences, since it would send a clear message of US skepticism that the WTO is a suitable forum for handling commercial relations between major powers. This study presents an analysis of the current US-Russia economic relations, provides estimates on the potential increase in US exports to Russia, and potential growth of two-way trade within the WTO framework. Drawing on conclusions from this analysis, and from previous work conducted by the Institute on US-Russia relations, this monograph summarizes the implications of PNTR for US producers, Russian economic growth, and bilateral commercial relations.

>> The United States Should Establish Permanent Normal Trade Relations with Russia, by Anders Åslund and Gary Clyde Hufbauer, is available online for preview and purchase.

New York Times Book Interview with Nicholas Lardy | Sustaining China's Economic Growth...

Nicholas R. Lardy, author of Sustaining China's Economic Growth After the Global Financial Crisis, has been interviewed in the New York Times. Read his "Book Chat" Q&A and learn more about the imbalances in China's economy, according to Lardy.

Global Trade in Services by J. Bradford Jensen Featured in New York Times

The business front page of the New York Times today features a link to J. Bradford Jensen's book Global Trade in Services: Fear, Facts, and Offshoring. The article distills the book's key arguments as well as quotes Jensen extensively.

Read the full article in the New York Times: "Some Urge U.S. to Focus on Selling Its Skills Overseas."

China's Next Generation Should Look to Zhu | Arvind Subramanian FT Op-ed

Remember that issue with the Chinese currency? As markets await this week's economic data releases from Beijing, it is easy to be complacent over its mercantilist exchange rate policies. Now concern is shifting to whether China has a hard landing ahead.

Continue reading this op-ed in the Financial Times by Arvind Subramanian, author of Eclipse: Living in the Shadow of China's Economic Dominance.

Source: Financial Times

Lardy to deliver N.T. Wang Distinguished Lecture at Columbia University tomorrow

The Weatherhead East Asian Institute at Columbia University and the Chazen Institute of International Business at Columbia Business School cordially invite you to the Second Annual N.T. Wang Distinguished Lecture featuring Nicholas Lardy, Anthony M. Solomon Senior Fellow at the Peterson Institute for International Economics and author of Sustaining China's Economic Growth After the Global Financial Crisis.

The lecture will take place at the Skyline Level (4th Floor) of Columbia University's Faculty House from 6:00 PM - 7:30 PM and will be followed by a reception. NOTE: Registered guests must arrive by 5:45 for guaranteed seating. Walk-in guests may be accepted pending space availability. Please arrive early to sign a waitlist.

Source: EventBrite.

Subramanian Gives Chinese Translation of Eclipse to Wen Jiabao

On his recent trip to Beijing, Arvind Subramanian handed the Chinese translation of Eclipse: Living in the Shadow of China's Economic Dominance to Chinese Prime Minister Wen Jiabao at the China Development Forum 2012 in March. You can view the photograph in our "Author Photos" album on PIIE Press' Facebook page. You can also view our new Facebook timeline layout here.

Financial Times Publishes Favorable Review of Eclipse

Gideon Rachman has published a very positive review of Arvind Subramanian's Eclipse: Living in the Shadow of China's Economic Dominance in the Financial Times. Rachman compares and contrasts Eclipse with other declinist works in "American Nightmare." Eclipse emerges victorious as "sober and precise" where others are labeled "wild and overstated."

Read "American Nightmare" in the Financial Times.

TVO interviews Nick Lardy on new book Sustaining China's Economic Growth...

The Agenda with Steve Paikin: Nicholas Lardy: Sustaining China's Economic Growth

About the video: China has weathered the global economic storm. What must China do to ensure this level of growth?

Nicholas R. Lardy is a Senior Fellow at the Peterson Institute for International Economics and author of the new book Sustaining China's Economic Growth After the Global Financial Crisis.

Forbes points to Global Trade in Services for A Real Jobs Plan

J. Bradford Jensen's book Global Trade in Services: Fear, Facts, and Offshoring is featured prominently in this Forbes article entitled A Real Jobs Plan for the 21st Century.

New Book | Resolving the European Debt Crisis

What began as a relatively localized crisis in Greece in early 2010 soon escalated to envelop Ireland and Portugal. By the second half of 2011, the contagion had spread to the far larger economies of Italy and Spain. The Peterson Institute and Bruegel joined forces to host a conference in mid-September 2011 designed to contribute to the formulation of policies that could help resolve the euro area debt crisis. This volume presents the papers prepared for the conference; several take account of further developments through end-2011.

The first set of papers examines the political context in each of five economies facing debt difficulties—Greece (Loukas Tsoukalis), Ireland (Alan Ahearne), Portugal (Pedro Lourtie), Spain (Guillermo de la Dehesa), and Italy (Riccardo Perissich)—as well as in two key stronger economies, Germany (Daniela Schwarzer) and France (Zaki Laidi). Lessons from past debt restructurings are examined by Jeromin Zettelmeyer (economic) and Lee Buchheit (legal). Parallel papers by the two editors then consider the main current policy issues: debt sustainability by country, whether private sector involvement spurs contagion, merits and drawbacks of alternative restructuring approaches, how to assemble a large emergency financing capacity in case it is needed for Spain and Italy, whether the European Central Bank should perform the role of lender of last resort, whether joint-liability "eurobonds" would be feasible and desirable, and the implications of a possible break-up of the euro area. The luncheon address by George Soros and a description of the policy simulation game played on the second day of the conference complete the volume.

>> Resolving the European Debt Crisis, edited by William R. Cline and Guntram Wolff, is available online for preview and purchase.

CNN's Fareed Zakaria GPS excerpts Arvind Subramanian's Eclipse

Imagining the day China eclipses America

Editor's Note: The following is an excerpt of Arvind Subramanian's new book, Eclipse: Living in the Shadow of China's Economic Dominance, published by the Peterson Institute for International Economics.

By Arvind Subramanian — Special to CNN

February 2021. It is a cold, blustery morning in Washington. The newly inaugurated Republican president of the United States is on his way to the office of the Chinese managing director of the International Monetary Fund (IMF) to sign the agreement under which the IMF will provide $3 trillion in emergency financing (about 12 percent of GDP) to the United States and the conditionality to which the United States will have to adhere.

What Economist Arvind Subramanian Thinks of 'China 2030' | WSJ Blog Post

Read an interview on the China Real Time Report of the Wall Street Journal with Arvind Subramanian, author of Eclipse: Living in the Shadow of China's Economic Dominance.

Taming the Dragon: One Scholar's Plan to Soften Chinese Dominance

Wired Magazine interviews Arvind Subramanian about his book Eclipse: Living in the Shadow of China's Economic Dominance. Click here to read the full interview.