China's Trump Card : Cryptocurrency and Its Game-Changing Role in Sino-US Trade.

Cover -- Title Page -- Copyright Page -- Contents -- Acknowledgments -- About the Author -- Preface -- Chapter 1 An Unconventional Trade Feud -- 1.1 Thanos and Trump -- 1.2 What Causes the Trade War? -- 1.2.1 Trump's Unilateralism -- 1.2.2 A Stubbornly Large China Deficit -- 1.2.3 Unfair Trade Practices -- 1.2.4 "China Dream" vs. "America First" -- 1.3 The Novelty of This Trade War -- 1.3.1 The Art of Being Unpredictable -- 1.3.2 Breaking the Bulk in Tranches -- 1.3.3 A Battle for Technology -- 1.3.4 Leverage Geopolitical Issues -- 1.4 Economic Impacts and Consequences -- 1.4.1 Slowdown in Trade and Investment -- 1.4.2 Relocation of Production Base -- 1.4.3 Negative Impact on US Business and Consumers -- 1.5 Trade War and Deglobalization -- Annex A: China's Belt and Road Initiative -- Annex B: Official Statements from the US and China -- Annex C: Major Timeline of the Trade War -- Chapter 2 Trade Imbalances and the Greenback -- 2.1 The Missing Link between Trade and Currency -- 2.2 Stubbornly Persistent US Trade Deficits -- 2.2.1 Stylized Facts of the US Trade Balance -- 2.2.2 The Economics of Trade Balance -- 2.3 Is the Exchange Rate to Blame? -- 2.3.1 Currency Revaluation -- 2.3.2 Exchange Rate in Trade Talks -- 2.4 Exorbitant Privilege of the Dollar -- 2.4.1 Triffin Dilemma -- 2.4.2 Quantitative Easing -- 2.5 Dollar Recycling and the Global Saving Glut -- 2.5.1 Petrodollar Recycling -- 2.5.2 China's Factory-Dollar Recycling -- Chapter 3 Deglobalization Prompts De-Dollarization -- 3.1 Anti-Multilateralism and Anti-Sovereign Movement -- 3.2 The Globalization Cycle -- 3.2.1 Globalization 1820-1914 -- 3.2.2 Postwar Globalization -- 3.3 Currency Globalization -- 3.3.1 Financial Integration and the Hubs -- 3.3.2 Currency Standard and Trade Bloc -- 3.4 Financial Deglobalization -- 3.4.1 Capital Mobility and Financial Crises.

3.4.2 Financial Crises and Populism -- 3.5 End of Cycle: De-Dollarization -- 3.5.1 The Transition Regime -- 3.5.2 De-Dollarization and the Trade War -- Chapter 4 China-US Financial Decoupling -- 4.1 Trade War and the Yuan -- 4.2 The Yuan in the Monetary Policy Context -- 4.2.1 Reforms in the Transitional Period 1979-2004 -- 4.2.2 A Tightly Managed Floating Regime 2005-2015 -- 4.2.3 Managed Floating Post "811" -- 4.2.4 Currency Outlook and Reforms -- 4.3 Globalizing the RMB in the Deglobalizing World -- 4.3.1 De-Dollarization -- 4.3.2 RMB Internationalization -- 4.4 Reserve Diversification10 -- 4.4.1 China's Holding of US Dollar Assets -- 4.4.2 Alternative Assets -- Chapter 5 A Race on the Digital Turf -- 5.1 Reform and Technology Independence -- 5.2 China's Structural Challenges -- 5.2.1 Demographic Challenge and Overleveraging -- 5.2.2 Supply-Side Structural Reforms -- 5.3 China's Digital Economy -- 5.3.1 Digitalization and Structural Rebalancing -- 5.3.2 China's Tech Policy -- 5.4 The Tech Rush and the Little Chips -- 5.4.1 Forced Technology Transfer -- 5.4.2 The Little Chips -- Chapter 6 Cryptocurrency and the People's Money -- 6.1 Deglobalization in the Digital Time -- 6.2 Bitcoin and Distributed Ledgers -- 6.2.1 The Basics of Blockchain -- 6.2.2 Cryptocurrency Market -- 6.2.3 Decentralization, Scalability, and Forks -- 6.3 Can Cryptocurrency Replace Money? -- 6.3.1 Is It a Medium for Payment? -- 6.3.2 Can Cryptocurrency Create Credit? -- 6.4 Regulatory Responses -- 6.5 Implication on Monetary Policy -- Chapter 7 Foreign Reserves Go Digital -- 7.1 From Zhou to Carney -- 7.2 Reserve Currency Based on Liquidity -- 7.3 The Potential Role of Cryptocurrency in Global Reserving -- 7.4 Implication of the Libra Project -- Chapter 8 The Endgame -- 8.1 The Trade War as the Perfect Shock -- 8.2 Libra or RMB, Which Is the Designated One?.

8.3 What Can China Do? -- Bibliography -- Index -- EULA.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.