International financial issues in the Pacific Rim : global imbalances, financial liberalization, and exchange rate policy

The imbalanced, yet mutually beneficial, trading relationship between the United States and Asia has long been one of international finance's most perplexing mysteries. Although the United States continues to post a substantial trade deficit-and China reaps the benefits of a surplus-the dollar has yet to sink in the face of ever-increasing account disparities. International Financial Issues in the Pacific Rim explains why the United States enjoys a seemingly symbiotic relationship with its trading partners despite stark inequities in the trade balance, especially with Asia. This timely and we