Six Myths that Hold Back America: And What America Can Learn from the Growth of China's Economy

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9780983988519: Six Myths that Hold Back America: And What America Can Learn from the Growth of China's Economy

Why is China booming while the American economy lags?
Despite a globally challenging economic environment, production in China has grown significantly every year, for the past twenty years. America’s GDP, by contrast, fell during the serious recession of 2008-9, and is now struggling to achieve even tepid growth. Why should this be?
Over the last decade, economic thought and attitudes in the West have increasingly diverged from the underlying views in China, and significant contrasts have developed. Six Myths that Hold Back America analyzes key statements of accepted economic views in the U.S. to determine which have real basis in the U.S. financial system, and which are really just myths.
Refreshing, stimulating, independent thinking―Frank Newman draws upon a wealth of practical experience in the private and public sectors, including his time as CEO of major banks in the U.S. and China, and in his role as Deputy Secretary of the U.S. Treasury. This experience at home and abroad helps him dissect a series of common economic beliefs and develop conclusions that deeply challenge conventional assumptions about the American economy.

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Six Myths that Hold Back America: And What America Can Learn from the Growth of China’s Economy offers a bold new view of today’s major economic challenges. Drawing upon his experience as a senior U.S. Treasury official and bank executive, Frank Newman makes a step-by-step case for a new approach to U.S. economic policy one that will address key problems of America now, and in the future.

In rediscovering its potential, America must shake its mistaken faith in economic myths. The U.S. is not being bankrolled by Asian nations. It is not drowning in a consumption-driven economy. It does not need to be shackled by fears of a budget deficit. Using illustrations of how the money system actually works, this book exposes the economic misunderstandings that have stagnated growth in the West, and reveals the very different views underpinning the East’s ascension.

About the Author:

Frank Newman is a former Deputy Secretary of the U.S. Treasury Department, and has 30 years of experience as a banking executive in both the U.S. and China. Upon completion of his service with Treasury, he was awarded the Alexander Hamilton Award, the department’s highest honor. He recently completed 5 years as Chairman of the Board of Directors and CEO of Shenzhen Development Bank, China. He has held the positions of Chairman and CEO of Bankers Trust, Vice Chairman and CFO of Bank of America, Executive Vice President and CFO of Wells Fargo Bank, Director of Korea First Bank, and Director of Dow Jones & Company. He and his wife live in Hong Kong, and enjoy time in New York and Martha’s Vineyard.

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Book Description Diversion Publishing, United States, 2011. Hardback. Book Condition: New. Language: English . Brand New Book. Why is China booming while the American economy lags? Despite a globally challenging economic environment, production in China has grown significantly every year, for the past twenty years. America s GDP, by contrast, fell during the serious recession of 2008-9, and is now struggling to achieve even tepid growth. Why should this be? Over the last decade, economic thought and attitudes in the West have increasingly diverged from the underlying views in China, and significant contrasts have developed. Six Myths that Hold Back America analyzes key statements of accepted economic views in the U.S. to determine which have real basis in the U.S. financial system, and which are really just myths. Refreshing, stimulating, independent thinking--Frank Newman draws upon a wealth of practical experience in the private and public sectors, including his time as CEO of major banks in the U.S. and China, and in his role as Deputy Secretary of the U.S. Treasury. This experience at home and abroad helps him dissect a series of common economic beliefs and develop conclusions that deeply challenge conventional assumptions about the American economy. Bookseller Inventory # AAC9780983988519

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Book Description Diversion Publishing, United States, 2011. Hardback. Book Condition: New. Language: English . Brand New Book. Why is China booming while the American economy lags? Despite a globally challenging economic environment, production in China has grown significantly every year, for the past twenty years. America s GDP, by contrast, fell during the serious recession of 2008-9, and is now struggling to achieve even tepid growth. Why should this be? Over the last decade, economic thought and attitudes in the West have increasingly diverged from the underlying views in China, and significant contrasts have developed. Six Myths that Hold Back America analyzes key statements of accepted economic views in the U.S. to determine which have real basis in the U.S. financial system, and which are really just myths. Refreshing, stimulating, independent thinking--Frank Newman draws upon a wealth of practical experience in the private and public sectors, including his time as CEO of major banks in the U.S. and China, and in his role as Deputy Secretary of the U.S. Treasury. This experience at home and abroad helps him dissect a series of common economic beliefs and develop conclusions that deeply challenge conventional assumptions about the American economy. Bookseller Inventory # AAC9780983988519

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Book Description Diversion Publishing. Hardcover. Book Condition: New. Hardcover. 192 pages. Dimensions: 8.6in. x 5.6in. x 0.7in.Why is China booming while the American economy lagsDespite a globally challenging economic environment, production in China has grown by an astounding 7 to 14 a year, every year, for the past 20 years. Americas GDP, by contrast, fell during the serious recession of 2008-9, and is now struggling to achieve even a tepid 3 growth. Why should this beOver time, economic thought and attitudes in the U. S. and other Western nations increasingly diverged from the underlying views in China, and significant contrasts developed. This book analyzes several key statements of accepted economic views in the U. S. , to determine which have real basis in the U. S. financial system, and which are really just myths. The six myths: Asian nations are bankrolling the U. S. Treasury issued securities crowd out the private sectorIf everyone tries to save more, the nation will save more, and investment, GDP, and employment will increaseIf the government reduces the deficit, then national saving andinvestment will increaseTodays deficits create great burdens of tax for our childrenIf the U. S. does not get its deficit reduced soon, treasuries will face thesame problems as Greece and Ireland This item ships from multiple locations. Your book may arrive from Roseburg,OR, La Vergne,TN. Hardcover. Bookseller Inventory # 9780983988519

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