Imbalance and Rebalance

Yang Li, member of the Party Leadership Group and vice-president of the Chinese Academy of Social Sciences; CASS member; researcher, doctoral supervisor; representative of the 12th National Congress; member of the Financial Committee of the National Congress; vice President of the China Postdoctoral Science Foundation; third member of the Monetary Policy Committee of the People’s Bank of China; vice-chairman of the China Finance Society, the Chinese Finance Society, China International Financial Society, and Chinese City Finance Society. He was elected as a member of the International Eurasian Academy of Sciences in 2011; received the “Sun Yefang Economics and Science Award” five times; and published extensively as an author and editor.Xiaojing Zhang, Director and researcher of the Institute of Economics, Chinese Academy of Social Sciences (CASS); professor at the CASS Graduate School; visiting scholar to the Stockholm School of Economics in Sweden,Harvard University and NBER; appointed as a special observer by the Xinhua News Agency for long-term tracking of the macro situation and policy analysis. His main research fields are macro-economics in the open economy, growth theory, and economics for development. His major works are Symbolic Economy and Hypostatic Economy: Economy Analysis of the Era of Financial Globalization, Harvard Essays: Intimate Contact with the Economics. He has received the “Sun Yefang Economics and Science Award” twice and been awarded the “China Book Prize”; further, he has published over 60 academic papers in Chinese or English.

• Section One: Introduction of the Global Imbalance from the perspective of money and finance. - Section Two: the global imbalance from the perspective of the real economy.- Section Three: the crisis of global financial system after World War Two.- Section Four: the institutions of rebalance global financial system.