A Partnership of Equals: How Washington Should Respond to China's Economic Challenge

摘要

To be an economic superpower, a country must be sufficiently large, dynamic, and globally integrated to have a major impact on the world economy. Three political entities currently qualify: the United States, the European Union, and China. Inducing China to become a responsible pillar of the global economic system (as the other two are) will be one of the great challenges of coming decades-particularly since at the moment China seems uninterested in playing such a role. The United States remains the world's largest national economy, the issuer of its key currency, and in most years the leading source and recipient of foreign investment. The eu now has an even larger economy and even greater trade flows with the outside world, and the euro increasingly competes with the dollar as a global currency.