Command of Commerce
America's Enduring Economic Power Advantage over China
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Product details:
- Publisher OUP USA
- Date of Publication 18 April 2025
- ISBN 9780197802304
- Binding Paperback
- No. of pages296 pages
- Size 234x156x16 mm
- Weight 408 g
- Language English
- Illustrations 32 b/w figures; 9 tables 655
Categories
Short description:
The conventional wisdom has held that China's economic power is very close to America's and that Washington cannot undertake a broad economic cutoff of China without hurting itself as much, or more. Command of Commerce shows that the conventional wisdom is wrong--America's economic power has been vastly underestimated and China's overestimated. Across multiple scenarios, the book shows that China's economic losses from a broad cutoff would be far greater than America's. A powerful analysis of the true scope of US and Chinese economic power, this will reshape our understanding of the most important geopolitical rivalry in the world.
MoreLong description:
The conventional wisdom has held that China's economic power is very close to America's and that Washington cannot undertake a broad economic cutoff of China without hurting itself as much, or more. In Command of Commerce, Ben A. Vagle and Stephen G. Brooks show the conventional wisdom is wrong on both fronts. The authors argue that America's economic power has been underestimated because conventional economic measures have ignored America's unprecedented control over the world's largest multinational corporations. They further argue that China's economic power has been overestimated due to Beijing's manipulation of its economic data and measurement issues presented by China's uniquely structured economy. The authors also show Washington could impose massive, disproportionate harm on Beijing if it imposed a broad economic cutoff on China in cooperation with its allies or via a distant naval blockade. Across six scenarios, China's short-term economic losses from a broad cutoff range from being 5 to 11 times higher than America's. And in the long run, America and almost all its allies would return to previous economic growth levels; in contrast, China's growth would be permanently degraded.
In Command of Commerce, Vagle and Brooks provide a provocative reinterpretation of China's economic weakness-and of America's enduring economic power. Emphasizing the central role of U.S. firms in high-value, high-technology industries, Command of Commerce shows that China is still a second-tier player in the industries that matter. Required reading for understanding the world economy and the role of China-U.S. relations.
Table of Contents:
Acknowledgments
Figures and Tables
Introduction
Measuring the Distribution of Commercial Capacity
The Potemkin Superpower
China's Economic Weapons
Conceptualizing a Wartime Economic Cutoff of China
Modeling a Wartime Economic Cutoff of China
Foreign Policy Implications for America and China
Notes
Index
