Does a Positive Sum Game that Makes Everyone Better Off Really Exist? The Risks and Temptations from the Myopic and Egoistic Viewpoints of Individual Continents and Countries

Mario Baldassarri and Pasquale Capretta

Chapter 7 in The World Economy Towards Global Disequilibrium, 2007, pp 88-273 from Palgrave Macmillan

Abstract: Abstract In the previous chapter we started by considering that the world economy has no long-run real and financial equilibrium, given current world governance, i.e. the current situation in which China has entered the WTO, without having allowed her exchange rate to float freely in the market but, instead, pegging the yuan to a devaluating US dollar. With this in mind we performed several alternative simulations and we measured the different perspectives in terms of a final result which would be to obtain sustainable US deficit and debt with higher growth for each area in the world.

Keywords: Exchange Rate; Unemployment Rate; World Economy; Euro Area; Domestic Demand (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59084-7_7

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DOI: 10.1057/9780230590847_7

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