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US-China trade

China, Trade and Power

Stewart Paterson's timely book, “China, Trade and Power: Why the West’s Economic Engagement Has Failed”, promotes reasoned and informed debate on the trade relationship between the West and China.

The Hinrich Foundation supported the publication of China, Trade and Power: Why the West’s Economic Engagement Has Failedto promote reasoned and informed debate on the trade relationship between the West and China.

This book, by Stewart Paterson, describes the unintended consequences of the policy of engagement that led to China's accession to the WTO in 2001.

As the trading nations of the world embark on a change of direction in their policies toward trade, we believe it is of the utmost importance that we understand the true and full extent of how past policies of engagement with China have impacted Western societies.

About the book

China, Trade and Power: Why the West’s Economic Engagement Has Failed” describes the impacts of the policy of engagement that led to China's accession to the WTO in 2001.

It aims to equip policymakers, business leaders and civil societies to contribute to the design of mutually beneficial approaches for sustainable global trade.

It shows that China's accession to the WTO:

  • Lifted hundreds of millions of people out of poverty in China, cementing the legitimacy of the Chinese Communist party and making China’s mercantilist model attractive to emerging economies in Asia.
  • Had remarkable but unintended impacts on standards of living in the West.
  • Resulted in a supply-side deflationary shock created by China’s low-cost exports, which when coupled with the inflation-targeting response of Western central banks, has led to a fall in real incomes for the many and a rise in asset prices for the few, raising questions about the effectiveness of liberal economic models.

Watch the video from our book launch event in Hong Kong below.



Author

Stewart Paterson

Stewart Paterson is a Research Fellow at the Hinrich Foundation who spent 25 years in capital markets as an equity researcher, strategist and fund manager, working for Credit Suisse, CLSA and most recently, as a Partner and Portfolio Manager of Tiburon Partners LLP.

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In the news

Media interviews with book author Stewart Paterson

Past events

Read about China, Trade and Power's book tour throughout the world