The United States vs. China. C. Fred Bergsten

      

CONTENTS

      1  Cover

      2  Title Page

      3  Copyright

      4  Preface Notes

      5  Abbreviations

      6  Part I The Setting 1 A New Global Economic Order? The Rise of China The United States as Incumbent Power The Systemic Alternatives The Current System The China Challenge The New Systemic Shocks Recent Systemic Competition Recent Systemic Cooperation The Policy Options The Domestic Front Notes 2 Why Global Economic Leadership Matters Global Public Goods Types of Global Economic Leadership The Benefits and Costs of Global Economic Leadership The Rise and Fall of American Global Economic Leadership The Major Leadership Failures The Trump Abdication China’s Global Economic Leadership Record Notes

      7  Part II The Superpowers 3 China’s Leadership Capabilities Economic Size Economic Quality Trade Foreign Direct Investment Foreign Exchange Reserves Development Finance Technology Human Capital Growth Projections China’s Achilles Heels Authoritarian Politics Perceptions and Realities Conclusion Notes 4 China’s Aspirations The Complexity of Chinese Views Inflection Points: The Global Financial Crisis and the Coronavirus Pandemic Revisionist or Revolutionary? The Best of Both Worlds The Costs of Global Economic Leadership Conclusion Notes 5 America’s Leadership Capabilities The US Economy Decoupling Economic and Security Issues US Vulnerabilities A Long-Term Erosion? Conclusion Notes 6 America’s Will to Lead The Costs of Leadership The Domestic Politics of Global Economic Leadership Who is the United States? Is US Leadership Still Necessary? Conclusion Notes

      8  Part III The Systemic Alternatives 7 The Leadership Vacuum: A G-0 World? A Stable or Unstable G-0? What for the Future? Potential G-0 Leaders Toward a Stable G-0 Conclusion Notes 8 G-1: Chinese Economic Pre-Eminence The Path to a “G-1” The Key Principles of the System The Chinese Alternatives The