Jump to ContentJump to Main Navigation
Strategic Adjustment and the Rise of ChinaPower and Politics in East Asia$
Users without a subscription are not able to see the full content.

Robert S. Ross

Print publication date: 2017

Print ISBN-13: 9781501709180

Published to Cornell Scholarship Online: January 2018

DOI: 10.7591/cornell/9781501709180.001.0001

Show Summary Details
Page of

PRINTED FROM Cornell University Press SCHOLARSHIP ONLINE (www.cornell.universitypressscholarship.com). (c) Copyright University of Cornell University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in Cornell for personal use. date: 27 June 2022

Perception, Misperception, and Sensitivity

Perception, Misperception, and Sensitivity

Chinese Economic Power and Preferences after the 2008 Financial Crisis

(p.69) Chapter 3 Perception, Misperception, and Sensitivity
Strategic Adjustment and the Rise of China

Daniel W. Drezner

Cornell University Press

This chapter analyzes the impact of the rise of the Chinese economy on the international economic structure. While looking at the rapid growth of the Chinese economy, analysis reveals that China has yet to challenge the United States as the anchor of the global financial system: the renminbi remains negligible in international financial transactions. Indeed, since the 2007–8 global financial crisis, the U.S. dollar has expanded its importance relative to the renminbi in global finance. The chapter suggests that the renminbi is far from becoming a significant international reserve currency and that the United States will continue to dominate the regional financial order. In trade relations, however, the chapter establishes the significant importance of the Chinese market for economies throughout East Asia.

Keywords:   Chinese economy, United States, global financial system, international economic structure, financial crisis, East Asia, global finance, renminbi

Cornell Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.