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Does a Positive Sum Game that Makes Everyone Better Off Really Exist? The Risks and Temptations from the Myopic and Egoistic Viewpoints of Individual Continents and Countries

In: The World Economy Towards Global Disequilibrium

Author

Listed:
  • Mario Baldassarri
  • Pasquale Capretta

Abstract

In the previous chapter we started by considering that the world economy has no long-run real and financial equilibrium, given current world governance, i.e. the current situation in which China has entered the WTO, without having allowed her exchange rate to float freely in the market but, instead, pegging the yuan to a devaluating US dollar. With this in mind we performed several alternative simulations and we measured the different perspectives in terms of a final result which would be to obtain sustainable US deficit and debt with higher growth for each area in the world.

Suggested Citation

  • Mario Baldassarri & Pasquale Capretta, 2007. "Does a Positive Sum Game that Makes Everyone Better Off Really Exist? The Risks and Temptations from the Myopic and Egoistic Viewpoints of Individual Continents and Countries," Palgrave Macmillan Books, in: The World Economy Towards Global Disequilibrium, chapter 7, pages 88-273, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59084-7_7
    DOI: 10.1057/9780230590847_7
    as

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