Today on Fresh Air, Terry Gross interviews James Fallows, Beijing-based correspondent for the Atlantic Monthly and author of the newly-released “Postcards from Tomorrow Square: Reports from China (Vintage),” about the role of Chinese investment in the American economy. The interview can be heard here.
Danwei has posted an excerpt of Fallows’ book, with an introduction that Fallows wrote:
As the financial crisis of 2008 became the worldwide economic crisis of 2009, the mainstream Western media began noticing the ‘bargain’ China had made with developed economies, above all the United States, that led to imbalances that helped cause the crash.
This passage of Postcards is part of an attempt to explain not simply the political calculation behind this ‘grand bargain’ but also the day by day mechanics through which it worked.
The passage picks up with an interview in which Lawrence Summers is commenting on the pattern through which a country full of poor people, China, kept sending money to a country full of rich people, the United States
Read also:
– an interview with Fallows on China Beat
– Examples of Fallows’ reporting, via CDT
