UNDERSTANDING THE DYNAMICS
- INT. RELATIONS
- ECONOMICS POLITICS
by Firat Uenlue
The term Chimerica was coined by Niall Ferguson and Moritz Schularick and refers to the tight and interdependent economic relationship between America and China. Despite having different objectives and even ideals, both nations were almost joined at hip at the beginning of the new millennium. The purpose of this ebook is to give the interested reader an account of the dynamics that shape the relationship between China and the United States in the fields of international relations, economics and politics.
Over the past decade the Sino-U.S. relationship has become the most important bilateral relationship in the international arena. Each nation represents something fundamentally different in the eyes of the other and yet, they have to work together in confronting global issues. Those that have spent enough time on the ground in China have seen a remarkable progress in living standards for ordinary Chinese ever since the Communist Party got its act together and pursued policies based on what they contribute to the nation’s progress. That pragmatism has had an effect on how China conducted its foreign policy. With the arrival of the Global Financial Crisis however, incentives have changed and the previous dynamic has lost some of its power.
At the onset of the financial crisis, many commentators were worried about China, fearing that it was too export-dependent on the United States. China seems to have trumped their concerns and come out much better than almost any nation three years after Lehman Brothers declared bankruptcy. The chapter on economics aims to outline an economic framework which is useful for economists, investors and laymen alike in analysing what really was happening in America during the bubble years, and what is happening in China now. We are witnessing a period where Chinese consumers are finally able to demand wages that enable them to enjoy a Western-style consumerist life. There is more to Chinese economic growth than cheap labour alone.
Finally the chapter on politics wants to show that although disgruntlement within the Chinese population exists, fears about a sudden downfall of the Communist Party that might take the country into chaos are overblown. The segment of the Chinese population that has gained from liberalization is in no hurry to put its gains at stake for the pursuit of an ideal in a society that is driven by materialism and a renewed pride in the nation.
This ebook has deliberately been kept short and can be read in one or two settings easily. Most readers only have so much time to read and it is the responsibility of an author to value the time of his readers. With the advent of ebooks authors are in a position where they no longer need to fill several hundred pages in order to have their material published as a hardcover book. The format of an ebook allows an author the luxury of brevity, forcing him to make his thoughts clear. We should make ample use of that new freedom and I can only hope that more authors take this opportunity and publish similar books about other interesting nations or subjects.
Having said the above however does not mean that the ebook is light in content, in contrast, what you will read in this ebook will hopefully continue to be of value to you in your pursuit to understand China, open a business there, or simply enjoy a holiday with a much deeper knowledge of what drives this fascinating nation