Eclipse

Review Parts of 'Eclipse' read like a wonky version of 'Rising Sun,' Michael Crichton's 1992 novel of Japanese dominance over the U.S. when Tokyo was seen as speeding toward number one. But Mr. Subramanian is a first-class economist who uses his book to discuss provocatively U.S.-Chinese relations and the nature of economic power. ----The Wall Street Journal If you want to understand the true magnitude of the shift in economic power that is currently changing the world, Eclipse is the book to read--provocative, well argued and elegantly written. -- --Liaquat Ahamed, Pulitzer Prize winning author of Lords of Finance Defying conventional wisdom, Eclipse not just vividly imagines, but provides a plausible scenario for, the replacement of the United States by China as the world's dominant economic power. It persuasively underlines the need for Washington to get its act together. ----Francis Fukuyama, Stanford University and author of The End of History and the Last Man and The Origins of Political Order Eclipse must be read for a refreshing and deep analysis of what may lie ahead. It is an extremely well written and thought provoking book. -- --Mohamed El-Erian, Chief Executive, PIMCO and award-winning author of When Markets Collide Eclipse is a fascinating read. Controversial, but meant to be, it has the potential to set the terms of our ongoing discussion on what is perhaps the hottest issue in the global economy--China's role. Its quantification of power alone will attract considerable interest. -- --Dani Rodrik, Professor of Economics, Harvard University and author of The Globalization Paradox Product Description By most accounts, China has quickly grown into the second largest economy in the world. In this controversial new book, Subramanian argues that China has already become the most economically dominant country in the world in terms of wealth, trade and finance. Its dominance and eclipsing of US global economic power is more imminent, more broad-based and larger in magnitude than anyone has anticipated. Subramanian compares the economic dominance of China with that of the two previous economic superpowers, the United States and the United Kingdom, and highlights similarities and diff erences. One corollary is that the fundamentals are strong for the Chinese currency to replace the dollar as the world's reserve currency. The final chapter forecasts how the international economic system is likely to evolve as a result of Chinese dominance.