““China-centric globalization is characterized by three features: (1) The emergence of China as the global center of manufacturing—the so-called “factory for the world”; (2) The creation of a new dollar zone shared by the U.S. and China, and supported by China’s adoption of a pegged dollar exchange rate; and (3) The emergence of a massive U.S. trade deficit with China, combined with the transfer of a significant chunk of U.S. manufacturing capacity there.””
![“A dramatic unwinding of that relationship [between USA and China],…” quote by Judy Woodruff](https://sms4smile.com/quotes/img-quotes/706/judy-woodruff-4310_aggressive_a-dramatic-unwinding-of-that-relationshi_1214246.jpg)
