Exploring monetary cooperation in East Asia

Beyond the single currency trap in the euro zone, the world economy remains under the threat of several destabilising forces. In general terms a financial crisis is likely as the mechanisms at work before the crisis of 2008 have not been fundamentally changed. A  deep downturn can be expected in 202...

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Autores principales: Mazier, Jacques, Saadaoui, Jamel, Valdecantos, Sebastián
Formato: Parte de libro publishedVersion
Lenguaje:Inglés
Publicado: Routledge 2020
Materias:
Sistema Monetario
Acceso en línea:https://nulan.mdp.edu.ar/id/eprint/3945/
https://nulan.mdp.edu.ar/id/eprint/3945/1/mazier-etal-2020.pdf
Aporte de:
Nulan - Fac.Cs.Económicas (UNMdP) de Universidad Nacional de Mar del Plata (UNMdP)
id I29-R135-3945
record_format dspace
spelling I29-R135-39452023-10-02T13:33:51Z Exploring monetary cooperation in East Asia Mazier, Jacques Saadaoui, Jamel Valdecantos, Sebastián Beyond the single currency trap in the euro zone, the world economy remains under the threat of several destabilising forces. In general terms a financial crisis is likely as the mechanisms at work before the crisis of 2008 have not been fundamentally changed. A  deep downturn can be expected in 2020 thanks to cumulative factors. US growth appears unsustainable with the progressive exhaustion of the effects of the tax cuts, the increasing public and external deficits, the impact of the trade war in some sensitive sectors and the instability of the financial markets. Only the boom of the US oil sector has widened the room for manoeuvre. Some large emerging countries (Brazil, Argentina, Turkey) are facing huge imbalances. East Asia is more resilient and China has launched a new recovery plan based on credit. The globalization has been marked by a turning point since 2008 under the effect of structural factors. The increasing implementation of robotization in production processes combined with the rising unit labour cost in China and other emerging countries have eroded the advantages of global value chains from the EU or the United States to China. The current trade war between the United States and China reinforces this evolution. This could contribute to launch some relocation of activities in the industrialized countries and transform the global economy into a more regionalized one. Routledge 2020 https://nulan.mdp.edu.ar/id/eprint/3945/ application/pdf eng https://nulan.mdp.edu.ar/id/eprint/3945/1/mazier-etal-2020.pdf In Mazier, Jacques <https://nulan.mdp.edu.ar/view/creators/Mazier=3AJacques=3A=3A.html>, Global imbalances and financial capitalism. Stock-flow-consistent modelling (pp. 239-270). New York: Routledge (Routledge Frontiers of Political Economy). ISBN 978-0-429-43778-6 Asia info:eu-repo/semantics/bookPart info:ar-repo/semantics/parte de libro info:eu-repo/semantics/publishedVersion Fil: Mazier, Jacques. University Sorbonne Paris Nord, CEPN-CNRS; France. Fil: Saadaoui, Jamel. University of Strasbourg, BETA-​CNRS; France. Fil: Valdecantos, Sebastián. National University of General San Martín; Argentina. Sistema Monetario info:eu-repo/semantics/closedAccess https://creativecommons.org/licenses/by-nc-nd/4.0/deed.es
institution Universidad Nacional de Mar del Plata (UNMdP)
institution_str I-29
repository_str R-135
collection Nulan - Fac.Cs.Económicas (UNMdP)
language Inglés
orig_language_str_mv eng
topic Sistema Monetario
spellingShingle Sistema Monetario
Mazier, Jacques
Saadaoui, Jamel
Valdecantos, Sebastián
Exploring monetary cooperation in East Asia
topic_facet Sistema Monetario
description Beyond the single currency trap in the euro zone, the world economy remains under the threat of several destabilising forces. In general terms a financial crisis is likely as the mechanisms at work before the crisis of 2008 have not been fundamentally changed. A  deep downturn can be expected in 2020 thanks to cumulative factors. US growth appears unsustainable with the progressive exhaustion of the effects of the tax cuts, the increasing public and external deficits, the impact of the trade war in some sensitive sectors and the instability of the financial markets. Only the boom of the US oil sector has widened the room for manoeuvre. Some large emerging countries (Brazil, Argentina, Turkey) are facing huge imbalances. East Asia is more resilient and China has launched a new recovery plan based on credit. The globalization has been marked by a turning point since 2008 under the effect of structural factors. The increasing implementation of robotization in production processes combined with the rising unit labour cost in China and other emerging countries have eroded the advantages of global value chains from the EU or the United States to China. The current trade war between the United States and China reinforces this evolution. This could contribute to launch some relocation of activities in the industrialized countries and transform the global economy into a more regionalized one.
format Parte de libro
Parte de libro
publishedVersion
author Mazier, Jacques
Saadaoui, Jamel
Valdecantos, Sebastián
author_facet Mazier, Jacques
Saadaoui, Jamel
Valdecantos, Sebastián
author_sort Mazier, Jacques
title Exploring monetary cooperation in East Asia
title_short Exploring monetary cooperation in East Asia
title_full Exploring monetary cooperation in East Asia
title_fullStr Exploring monetary cooperation in East Asia
title_full_unstemmed Exploring monetary cooperation in East Asia
title_sort exploring monetary cooperation in east asia
publisher Routledge
publishDate 2020
url https://nulan.mdp.edu.ar/id/eprint/3945/
https://nulan.mdp.edu.ar/id/eprint/3945/1/mazier-etal-2020.pdf
work_keys_str_mv AT mazierjacques exploringmonetarycooperationineastasia
AT saadaouijamel exploringmonetarycooperationineastasia
AT valdecantossebastian exploringmonetarycooperationineastasia
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