Global Recession Risk: Dollar Devaluation And The World Economy

Hardcover | May 15, 2007

byCarlos M. Peláez, Carlos A. Peláez

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The US current account deficit approaches one trillion dollars, absorbing 75 percent of world surpluses. A fire sale of US debt could cause a global recession through disorderly devaluation of the dollar, raising interest rates and crashing stock markets. The G7 doctrine of shared responsibility intends to coordinate regional efforts. There is meagre political capital in most regions for these reforms. The devaluation of the dollar could be faster than G7 policy coordination. This book analyzes the main issues and individual regions, including China, Japan, the EU and the USA.

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The US current account deficit approaches one trillion dollars, absorbing 75 percent of world surpluses. A fire sale of US debt could cause a global recession through disorderly devaluation of the dollar, raising interest rates and crashing stock markets. The G7 doctrine of shared responsibility intends to coordinate regional efforts. ...

CARLOS M. PELÁEZ received a PhD and BS, Phi Beta Kappa, from Columbia University, City of New York, USA. He has published books, essays and articles worldwide. He was Director of Banco Chase and of the Rio de Janeiro Association of Banks and Vice President of Chase Manhattan Bank, USA. He is Managing Director of CMP Associates, USA.CA...

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Format:HardcoverDimensions:276 pages, 8.5 × 5.5 × 0.69 inPublished:May 15, 2007Publisher:Palgrave MacmillanLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0230521509

ISBN - 13:9780230521506

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Table of Contents

Introduction, Scope and Content * Policy Contributions * China in Need of a New Paradigm * Japan after Deflation * The Euro Area * Currency Crashes * The Restrictions of Policy of the United States * Conclusion