Palgrave Macmillan, a world-class academic publisher, has recently released the English monographA Recent History of Global Imbalancesby Professor Edmund Sheng—Distinguished Professor of the School of Political Science and Public Administration, Distinguished Expert of the Taishan Scholars Program, and Executive Dean of the Shanghai Cooperation Organization Research Institute.
By analyzing the current trade imbalance between China and the United States,A Recent History of Global Imbalancesfocuses on elaborating the formation mechanism of global imbalances, explores their root causes from both theoretical and practical perspectives, and seeks a balanced path for global sustainable development. Its major contribution lies in endogenously explaining how the existing economic models and structures systematically give rise to imbalances, which in turn intensify such defining characteristics of the times as escalating socioeconomic conflicts, growing great-power competition, and the resurgence of geopolitics. The book reveals the micro-foundations underlying the current international landscape, analyzes the internal dynamics driving countries to carry out political adjustments under the "hard constraints" of economic and material interests, and thus provides a new analytical dimension for understanding the causes shaping the present-day international order.
