{"product_id":"9781847656971","title":"Globalisation Fractures: How major nations' interests are now in conflict","description":"\u003cp\u003eIn his previous books, \u003ci\u003eThe Bill from the China Shop\u003c\/i\u003e and \u003ci\u003eChina and America: A Time of Reckoning\u003c\/i\u003e, Charles Dumas was the first to identify the existence and potential impact of the Eurasian Savings Glut - most importantly how it would push US mortgage borrowing to excess, precipitating the global credit crisis. As we now strive to rescue the international financial system, he points to uncomfortable truths about the conflicts ahead.\u003c\/p\u003e\u003cp\u003eThe US has reverted to debt-driven growth (this time, government debt), and its economic benefit is waning while the risk increases. China is veering back to export-led growth and large surpluses, increasingly at others' expense. Europe is squeezed between them, and the fixed-rate euro system is creating a subsidiary set of extreme imbalances: the Mediterranean cannot expand demand, while north-central Europe will not expand it. Globally, the choice may soon be between serially degrading US federal credit or putting up trade barriers. The first would undermine the world financial system, but the second would damage world trade, at huge expense to real incomes everywhere.\u003c\/p\u003e\u003cp\u003e\u003ci\u003eGlobalisation Fractures\u003c\/i\u003e confronts the inherent conflicts as issues to be urgently addressed. This is the battleground upon which the future of the global economy will be determined.\u003c\/p\u003e","brand":"Profile","offers":[{"title":"Default Title","offer_id":47137139130608,"sku":"9781847656971","price":18.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9781847656971_p0.jpg?v=1763747721","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9781847656971","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}