We propose a multi-country dynamic general equilibrium model to quantify the implications of trade and FDI … of bilateral trade and FDI flows across 5 major economies as well as their CA balances over 1996-2014. Our counterfactual … experiments suggest that the decline in trade and FDI costs accounts for about half of the increase in global trade imbalances and …

China's major imbalances include trade and capital account surpluses and a large annual build-up of international … surplus run a capital account deficit. The U.S. is widely criticized for having a comparable trade deficit that mirrors, to a …

assessment of how trade costs and related policy barriers drive excess global imbalances …

China's economic growth is sputtering, the Euro is under threat, and the United States is combating serious trade … undergoing a critical rebalancing of the world economies. Debunking popular misconceptions, Pettis shows that severe trade …Cover -- Title -- Copyright -- Dedication -- Contents -- Preface to the Paperback Edition -- CHAPTER ONE Trade …

serious trade disadvantages. Another Great Depression? Not quite. Noted economist and China expert Michael Pettis argues … that severe trade imbalances spurred on the recent financial crisis and were the result of unfortunate policies that …