By Bernard K. Gordon
America's alternate Follies controversially argues that the worldwide political economic system is hardening into nearby blocs, in North the United States, Latin the US, Europe and the Asia Pacific, geared up round a robust fiscal base and suspicious of one another. Bernard ok. Gordon's masterful research exhibits that this department threatens American prosperity by means of restricting US entry to the world's richest and biggest markets, and endangers US safeguard by means of dividing the globe alongside financial and political strains. Provocative, unique and stimulating this publication is key analyzing for all these drawn to American politics, exchange and overseas political financial system.
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Additional info for America's Trade Follies: Turning Economic Leadership into Strategic Weakness
23 For that reason, in order to America’s trade in its global context 23 $ (billions) 175 125 75 80 19 81 19 82 19 83 19 84 19 85 19 86 19 87 19 88 19 89 19 90 19 91 19 92 19 93 19 94 19 95 19 96 19 97 79 19 78 19 77 19 76 19 74 73 19 72 19 75 19 19 Ϫ25 19 19 71 25 Source: US Commerce Department, Foreign Trade Highlights, 1997, Table 1. 7 The dollar value of America’s trade deﬁcits, 1971–97. judge the signiﬁcance of any trade deﬁcit number – whether $50 billion or $200 billion – some context is needed.
That global achievement by America’s ﬁrms and products makes its ofﬁcial policy of economic regionalism particularly difﬁcult to rationalize, or even to fathom. Yet some of the explanation for America’s continuing attachment to regionalism lies in the success of Europe’s experience with the concept, and for that reason the next chapter explores the evolution of the European Union – from its beginnings as a simple coal and steel community, to its emergence as a commercial superpower with a single currency.
By 1928, however, a decade after the war’s end, it had grown to almost 16 percent. 19 The explanation in both cases is similar, though the effect was much more pronounced after World War II. That war brought devastation everywhere in the industrialized world, except for the United States, Canada, and a few small economies. 4 100 years of US exports, as percentage share of world market. 20 America’s trade in its global context were two consequences of that wartime destruction. First, in the early postwar years, no other nation was capable of producing many of the goods that came from the United States.
America's Trade Follies: Turning Economic Leadership into Strategic Weakness by Bernard K. Gordon