The Global Recession Risk
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The Global Recession Risk: Dollar Devaluation and the World Economy

The Global Recession Risk: Dollar Devaluation and the World Economy


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About the Book

The US current account deficit approaches one trillion dollars, absorbing 75 percent of world surpluses. A fire sale of US debt could cause a global recession through disorderly devaluation of the dollar, rising interest rates and crashing stock markets. The G7 doctrine of shared responsibility intends to coordinate regional efforts and reforms. The US would increase savings and sell more goods abroad. Europe would increase domestic demand and reform labor and product markets. Japan would revalue the yen and increase productivity. The US, Europe and Japan should reduce their fiscal deficits to pay for future social costs of ageing. China and emerging Asia would revalue their currencies, buying more domestic products. Oil producing countries would invest more at home. There is meagre political capital in most regions for these reforms. The devaluation of the dollar could be faster than G7 policy coordination. This volume analyzes the main issues and individual regions.

Table of Contents:
Introduction, Scope and Content Policy Contributions China in Need of a New Paradigm Japan after Deflation The Euro Area Currency Crashes The Restrictions of Policy of the United States Conclusion

About the Author :
CARLOS M. PEL EZ received a PhD and BS, Phi Beta Kappa, from Columbia University, City of New York, USA. He has published books, essays and articles worldwide. He was Director of Banco Chase and of the Rio de Janeiro Association of Banks and Vice President of Chase Manhattan Bank, USA. He is Managing Director of CMP Associates, USA. CARLOS A. PEL EZ received the AB in Statistics from the University of Chicago, USA. He published International Financial Architecture with Palgrave, as well as a book on globalization, and an essay on the global electric industry. He is an Associate Editor of the Journal of International Economic Law at the University of Pennsylvania Law School, USA.

Review :
'[C]oncise and accessible...' - Business & Finance


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Product Details
  • ISBN-13: 9780230206595
  • Publisher: Palgrave Macmillan
  • Publisher Imprint: Palgrave Macmillan
  • Height: 224 mm
  • Sub Title: Dollar Devaluation and the World Economy
  • Width: 142 mm
  • ISBN-10: 023020659X
  • Publisher Date: 17 Apr 2007
  • Binding: Digital (delivered electronically)
  • Spine Width: 20 mm
  • Weight: 456 gr


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