Double Shocks

This book presents a rigorous analysis of the transformation of the global economic order under conditions of intensifying great power competition. Reassessing U.S. hegemony and the strategic responses of emerging powers, it examines the political, financial, and institutional foundations of American dominance, the evolution of Sino U.S. relations across recent U.S. administrations, and the systemic impact of globalization fragmentation, currency over issuance, and recurrent global crises.

Focusing on China s strategic choices in the new era, the book argues that Sino U.S. competition is fundamentally a contest over reform capacity and governance effectiveness. It advances a reform centered framework for preventing systemic decoupling, strengthening industrial and financial resilience, and promoting higher level openness through the dual circulation strategy and the internationalization of the Renminbi. This volume offers scholars and policymakers a coherent framework for understanding global economic reordering and China s long term development trajectory.