Abenomics, 63
ACTA. See Anti-Counterfeiting Trade Agreement
ADBI. See Asian Development Bank Institute
Advanced economies
currency wars, 21
economy crisis, 17–22
European Union, 63–68
financial repression, 19–20
fiscal deficit, 52–55
hot money, 21
impact of indebtedness, 13–17
and inflation targeting, 92–96
intertwined global economy, 16
Japan, 60–63
macroprudential regulation, 21
real interest rates frequency distributions, 17–18
United States, 55–60
Anti-Counterfeiting Trade Agreement (ACTA), 12
ASEAN. See Association of South East Asian Nations
Asian Development Bank Institute (ADBI), 34
Association of South East Asian Nations (ASEAN), 32–39
Bank of Brazil, 20
Bank of China, 20
Bank of Japan (BOJ), 85, 113
BOJ. See Bank of Japan
Brazil, emerging markets, 77–80
The Brazilian Economy magazine, 43
Brazil, Russia, India, China and South Africa (BRICS), 9–10, 20–21, 35, 39–43, 69, 86, 108, 120
Bremmer, Ian, 8
BRICS. See Brazil, Russia, India, China and South Africa
Bureaugarchs, 102
Capital flow
control of, 87–91
effectiveness of measures, 90
China
global trade rebalance, 130–132
market challenges, 74–77
Chinese Communist Party, 103
CIVETS. See Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa
Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa (CIVETS), 7, 26, 39, 43–45, 120, 136, 149
Communist Party’s Organization Department, 101, 103
Consumer price index (CPI), 116
Corruption Perceptions Index, 102
CPI. See Consumer price index
Currency rate
and capital flows, 87–91
Bank of Japan, 85
control of, 87–91
exchange rate manipulation, 86–87
rationale, 83
WTO International Trade Statistics, 84
Currency suicide. See Currency war
Currency war, 21, 83
global economy war, 118–121
Devaluation
against gold, 124
other fiat currencies
exporter as wealth-transfer agent, 127
insights, 125–126
monetary expansion, 126–127
moral hazard of welfare state, 128
race to the bottom, 127
value in, 122–124
EBA. See European Banking Authority
ECB. See European Central Bank
Economic nationalism
emerging markets, 104–107
responses to, 107–108
Economist Intelligence Unit, 29
Emerging markets
Brazil, economy of extremes, 77–80
BRIC, 82
China’s challenges, 74–77
economic nationalism, 104–107
impact on global economy, 71–72
and inflation targeting, 96–97
influences
across globe, 27–32
ASEAN bloc, 32–39
BRICS bloc, 39–43
CIVETS bloc, 43–45
institutional voids, 31
MENA countries, 45–50
new capitalism, 72–74
outperformed advanced economies, 117–118
policy priorities, 69–70
state capitalism, 97–100
EMU. See European Monetary Union
European Banking Authority (EBA), 64
European Central Bank (ECB), 1, 17, 53
European Monetary Union (EMU), 123
Every Nation for Itself: Winners and Losers in a G-Zero World (Bremmer), 8
Exchange rate manipulation, currency rate, 86–87
Exporter, wealth-transfer agent, 127
Federal Reserve Bank, 20
Financial repression, 19–20
Fiscal cliffs, 14
G-8 group
coping with multipolar world, 9–13
country list, 2
influence, global economy, 4–8
G-20 group
coping with multipolar world, 9–13
country list, 2
definition, 2
description, 1
emergence of, 144–145
growth strategies, 5
influence, global economy, 4–8
Gini index, 79
Global economic war
advanced economies, 113
Bank of Japan, 113
currency war, 112–113
liquidity, 114
Global trade rebalance
challenges, global recovery, 139–141
China, 130–132
current patterns, 132–136
description, 129–130
global economy, 137–139
multilateralism, 141–146
rebalancing is not a solution, 136–137
Group of Seven Industrialized Nations (G-7), 4
policymakers, 115–116
real government bond yields, 22
G-Zero phenomenon, 8
Happy Planet Index (HPI), 80
Hot money, 21
HPI. See Happy Planet Index
IBSA. See India, Brazil, South Africa
IMF. See International Monetary Fund
Imported inflation, 122
India, Brazil, South Africa (IBSA), 9
Inflation targeting
advantages, 92
characteristics, 92
description, 91–92
monetary-policy strategy, 92
with advanced economies, 92–96
with emerged economies, 96–97
Institutional voids, 31
Interdependence, 146
International Monetary Fund (IMF), 2
Japan, advanced economies, 60–63
Maastricht Treaty, 64
Middle East and North Africa (MENA) countries, 45–50, 120, 136
Monetary expansion, 126–127
Monetary-policy strategy. See Inflation targeting
Multilateralism, 141–146
OECD. See Organization for Economic Cooperation and Development
Organization for Economic Cooperation and Development (OECD), 32
PBOC. See People’s Bank of China
People’s Bank of China (PBOC), 74–75
PMI. See Purchasing Manager Index
Purchasing Manager Index (PMI), 75
QE. See Quantitative easing
Quantitative easing (QE), 83, 86, 112
Relative consumer price index, 89
Reserve requirement ratio (RRR), 75
RRR. See Reserve requirement ratio
SASAC. See State-Owned Assets Supervision and Administration Commission
SOEs. See 97, 101-102
State capitalism
definition, 98
in emerging markets, 97–100
responses to, 103–104
risks associate with, 100–103
State owned enterprises (SOEs), 97, 101–102
State-directed capitalism, 98
State-Owned Assets Supervision and Administration Commission (SASAC), 101
Threats of devaluation, 86
TPP. See Trans-Pacific Partnership
Transatlantic Trade and Investment Partnership (TTIP), 10–11
Trans-Pacific Partnership (TPP), 10–13
TTIP. See Transatlantic Trade and Investment Partnership
Uncivil society, 146
UNDP. See United Nations Development Program
UNESCO. See United Nations Educational, Scientific and Cultural Organization
United Nations Development Program (UNDP), 78–79
United Nations Educational, Scientific and Cultural Organization (UNESCO), 79
United States, advanced economies, 55–60
Value in devaluation, 122–124
World Trade Organization (WTO), 11
World War I (WWI), 14, 17
World War II (WWII), 14, 17
WTO. See World Trade Organization
WTO International Trade Statistics, 84
WWI. See World War I
WWII. See World War II