October 30, 2005 | Working Paper
  • Type of publication: Working Paper
  • Research or In The Media: Research
  • Research Area: Finance, Jobs & Macroeconomics
  • Publication Date: 2005-10-30
  • View pdf
  • Authors:
    • Add Authors: Minqi Li
    • Add Authors: Andong Zhu
  • Show in Front Page Modules: Yes

This paper examines certain structural macroeconomic relations in the neoliberal global economy. The current global economy rests upon three unsustainable trends: the debt-driven U.S. consumption expansion; China’s excessive investment expansion; and the large and rising U.S. current account deficits. When these trends are eventually reversed or corrected, there could be major upheavals in the world economy. The decline of neoliberalism may pave the way for a new set of economic, political, and social institutions.

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