. Martin Jacques, author, When China Rules the World: The End of the Western World and the Birth of a New Global Order The … times provocative, assessment of the course of the macro-monetary problems of the world since the "great recession" struck … and quantitative easing lift the advanced world back to growth, or will they be dragged down by the overhang of debt …

1. The rapidly changing world economy -- 2. The great recession -- 3. Global finance and payments imbalances -- 4. The … role of monetary policy -- 5. The post-crisis world -- 6. China's prospects and challenges -- 7. The US external position …

We review the competing explanations of the 2007-2008 global crisis, recall how governments around the world had to …-bail-out world, the trade-off between financial stability and the cost of capital, the feasibility for central banks to manage their …