Business · Economy · 8 hrs ago

Jeffrey Sachs says China’s economic rise unsettled the United States

Jeffrey Sachs says China’s economic rise unsettled the United States

Economist Jeffrey Sachs said China’s growth unsettled the United States at an international trade expo in Shanghai.

Sachs, who directs Columbia University’s Center for Sustainable Development, said the reaction came as China’s economy became larger than the US economy.

He said US strategists and leaders had expected the West to remain dominant for centuries.

Sachs described Asia’s economic rise as a return to its longstanding place in the global economy.

He linked Asia’s earlier loss of influence to a period of Western imperial rule.

The shift matters because it changes the balance of global economic power.

The comments were made at the ninth China International Import Expo; no further action was specified.

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Jeffrey SachsDirector of the Center for Sustainable Development at Columbia University
This led to an almost neurotic breakdown in the United States because China did something it wasn't supposed to do
via TASS
They didn't understand that this rebalancing was a kind of natural recovery of Asia to its long-standing place in the world economy after a century and a half of imperial disruption. Imperial, that is, by the West
via TASS