scholarly journals The Role Of China And The United States In The Global Economy Of The 21st Century

2011 ◽  
Vol 7 (2) ◽  
Author(s):  
Prasad Padmanabhan ◽  
San Sedki
Keyword(s):  
Global Economy ◽  
The United States ◽  
Recent Attempt ◽  
China And India ◽  
Consumer Prices ◽  
The World ◽  
General Feeling ◽  
Negative Effect ◽  
India And China ◽  
The U.S

The world is characterized by brutal global competition. When talking about competition during much of the 80s and 90s, we generally refer to the triage of Western European, Japanese, and U.S. firms. Today, we have to add firms from Brazil, Chile, China, and India to this elite bunch. This competition is good for the consumer -- prices of manufactured goods have been kept in check, and there is a general feeling of economic prosperity around the world. According to a recent article in The Economist global output has grown by over 4.3 % annually. The growing middle class in India and China has recorded the sharpest increase in the number of billionaires in the last decade; therefore the world has every reason to feel optimistically euphoric, even if China and India will reap a bigger share of the economic pie. In the words of Drucker, India and China are rapidly transforming their economiesthey can now produce technologically sophisticated and financially rewarding offerings that are diminishing American standards. (Drucker, 2004) The concern with the advent of China has prompted more protectionist oriented legislation against China: textiles. The U.S. Congress also blocked a recent attempt by Chinas China National Offshore Oil Corporation (CNOOC) to acquire Chevron. A recent Harris Poll indicated that 40% of the people surveyed believe that China will be stronger than the U.S. within a decade, and over 50% believe that China will have a negative effect on the U.S. economy.

Reintegrating Cuba into the Global Economy

2019 ◽  
pp. 241-276
Author(s):  
Larry Catá Backer
Keyword(s):  
Presidential Election ◽  
Global Economy ◽  
The United States ◽  
The Political ◽  
Global Trade ◽  
Global Changes ◽  
Cooperation Agreement ◽  
Political Dialogue ◽  
The World ◽  
The U.S

This chapter seeks to answer the question: What internal Cuban legal adjustments are necessary for Cuba to enter into a fully normalized relationship with the United States. and the rest of the world? The chapter first focuses on the adjustments Cuba might have to undertake if it is to embed itself within the structures of global trade and finance. Next, the chapter examines the extent to which Cuba is disposed to consider these possible reforms. Third, it examines what may be possible in the aftermath of the U.S. presidential election of 2016 (and its aftermath) and other global changes, including the emergence of a Chinese alternative to national embedding in global trade. These have considerably changed the terrain within with the consequences of U.S.-Cuba normalization can be considered. The examination considers the value of the European Union’s strategic initiative, the Political Dialogue and Cooperation Agreement (PDCA), as a viable basis for Cuban reintegration in the global economy.

scholarly journals Global Fiscal Consolidation

2012 ◽  
Vol 11 (1) ◽  
pp. 124-146 ◽  
Author(s):  
Warwick J. McKibbin ◽  
Andrew B. Stoeckel
Keyword(s):  
United States ◽  
Global Economy ◽  
The United States ◽  
Fiscal Consolidation ◽  
The Great Recession ◽  
Fiscal Adjustment ◽  
The World ◽  
The Impact ◽  
Domestic Economies ◽  
The U.S

The buildup in government debt in response to the “great recession,” has raised a number of policy dilemmas for individual countries as well as the world as a whole. The recent need for a change of fiscal policy stance has fuelled debates about the impact of fiscal consolidation on domestic economies that are tightening, the flow-on effects to the world economy, and also about how much tightening there should be and how quickly it should happen. This paper explores these issues in a global framework focusing on the national and global consequences of coordinated fiscal consolidation. It explores the implications this fiscal adjustment might have on country risk premia and what happens if all countries coordinate their fiscal adjustment except the United States. A coordinated fiscal consolidation in the industrial world that is not accompanied by U.S. actions is likely to lead to a substantial worsening of trade imbalances globally as the release of capital in fiscally contracting economies flows into the U.S. economy, appreciates the U.S. dollar, and worsens the current account position of the United States. The scale of this change is likely to be sufficient to substantially increase the probability of a trade war between the United States and other economies. To avoid this outcome, a coordinated fiscal adjustment is clearly in the interest of the global economy.

scholarly journals Commodity goods forecast

2021 ◽  
pp. 57-64
Author(s):  
V.B. Kondratiev
Keyword(s):  
Global Economy ◽  
Iron Ore ◽  
Mining Industry ◽  
Commodity Prices ◽  
The United States ◽  
China And India ◽  
Economic Progress ◽  
The World ◽  
Favorable Period ◽  
New Phase

The last twenty years have been a favorable period for the global economy. Asian economies grew rapidly, which boosted the demand for key commodities such as gold, copper and iron ore, and increased mining employment worldwide. This growth has been largely driven by the process of globalization and the rising welfare of population in the emerging markets such as China and India. The world is now entering a more dangerous phase of its development, as political and economic tensions between China and the United States are increasing and threaten to nullify the results of the economic progress. A rollback to protectionism and de-globalization may occur. Asia has been the engine of the mining industry, and commodity prices have helped to determine the prospects of the mining cycle. A number of commodities, including copper, have rebounded from their lows in recent months. This suggests that a new phase of economic recovery is starting to gain momentum, opening a new phase in the expansion of the global mining sector.

THE INFLUENCE OF SCOTTISH ACCOUNTANTS IN THE UNITED STATES: THE EARLY CASE OF THE SOCIETY OF ACCOUNTANTS IN EDINBURGH

1997 ◽  
Vol 24 (1) ◽  
pp. 117-141 ◽  
Author(s):  
T. A. LEE
Keyword(s):  
United States ◽  
General Theory ◽  
Research Program ◽  
The United States ◽  
The World ◽  
Early Case ◽  
The Impact ◽  
Chartered Accountants ◽  
The U.S

This study represents part of a long-term research program to investigate the influence of U.K. accountants on the development of professional accountancy in other parts of the world. It examines the impact of a small group of Scottish chartered accountants who emigrated to the U.S. in the late 1800s and early 1900s. Set against a general theory of emigration, the study's main results reveal the significant involvement of this group in the founding and development of U.S. accountancy. The influence is predominantly with respect to public accountancy and its main institutional organizations. Several of the individuals achieved considerable eminence in U.S. public accountancy.

scholarly journals The Global Domain of the Dollar: Eight Questions

2020 ◽  
Vol 48 (4) ◽  
pp. 421-429
Author(s):  
Robert N. McCauley
Keyword(s):  
Economic Activity ◽  
Balance Sheet ◽  
The United States ◽  
Fiscal Deficits ◽  
Exorbitant Privilege ◽  
The World ◽  
World Economic ◽  
Dollar Debt ◽  
The 1960S ◽  
The U.S

Abstract Since the late 1950s, the rest of the world has come to use the dollar to an extent that justifies speaking of the dollar’s global domain. The rest of the world denominates much debt in U.S. dollars, extending U.S. monetary policy’s sway. In addition, in outstanding foreign exchange deals, the rest of the world has undertaken to pay still more in U.S. dollars: off-balance-sheet dollar debts buried in footnotes. Consistent with the scale of dollar debt, most of the world economic activity takes place in countries with currencies tied to or relatively stable against the dollar, forming a dollar zone much larger than the euro zone. Even though the dollar assets of the world (minus the United States) exceed dollar liabilities, corporate sector dollar debts seem to make dollar appreciation akin to a global tightening of credit. Since the 1960s, claims that the dollar’s global role suffers from instability and confers great benefits on the U.S. economy have attracted much support. However, evidence that demand for dollars from official reserve managers forces unsustainable U.S. current account or fiscal deficits is not strong. The so-called exorbitant privilege is small or shared. In 2008 and again in 2020, the Federal Reserve demonstrated a willingness and capacity to backstop the global domain of the dollar. Politics could constrain the Fed’s ability to backstop the growing share of the domain of the dollar accounted for by countries that are not on such friendly terms with the U.S.

Accepting Regional Zero: Nuclear Weapon Free Zones, U.S. Nonproliferation Policy and Global Security, 1957–1968

2015 ◽  
Vol 17 (2) ◽  
pp. 36-72 ◽  
Author(s):  
James Stocker
Keyword(s):  
Latin America ◽  
Nuclear Weapon ◽  
Security Policy ◽  
The United States ◽  
Nuclear Nonproliferation ◽  
Nuclear Strategy ◽  
The World ◽  
History Of ◽  
The U.S ◽  
Over Time

Nuclear weapon free zones (NWFZs) were an important development in the history of nuclear nonproliferation efforts. From 1957 through 1968, when the Treaty of Tlatelolco was signed, the United States struggled to develop a policy toward NWFZs in response to efforts around the world to create these zones, including in Europe, Africa, Latin America, and the Middle East. Many within the U.S. government initially rejected the idea of NWFZs, viewing them as a threat to U.S. nuclear strategy. However, over time, a preponderance of officials came to see the zones as advantageous, at least in certain areas of the world, particularly Latin America. Still, U.S. policy pertaining to this issue remained conservative and reactive, reflecting the generally higher priority given to security policy than to nuclear nonproliferation.

United States and Its Challenge to Multilateralism in the Global Economy

2018 ◽  
Vol 74 (4) ◽  
pp. 402-419
Author(s):  
Krishnakumar S.
Keyword(s):  
United States ◽  
Global Economy ◽  
World Economy ◽  
Foreign Exchange Market ◽  
Bilateral Trade ◽  
Developing Economies ◽  
The United States ◽  
The Us ◽  
The World ◽  
Merchandise Trade

With Donald Trump as President of United States, multilateralism in the world economy is facing an unprecedented challenge. The international economic institutions that have evolved since the fifties are increasingly under the risk of being undermined. With the growing assertion of the emerging and developing economies in the international fora, United States is increasingly sceptical of its ability to maneuvre such institutions to suit its own purpose. This is particularly true with respect to WTO, based on “one country one vote” system. The tariff rate hikes initiated by the leader country in the recent past pose a serious challenge to the multilateral trading system. The paper tries to undertake a critical overview of the US pre-occupation of targeting economies on the basis of the bilateral merchandise trade surpluses of countries, through the trade legislations like Omnibus Act and Trade Facilitation Act. These legislations not only ignore the growing share of the United States in the growing invisibles trade in the world economy, but also read too much into the bilateral trade surpluses of economies with United States and the intervention done by them in the foreign exchange market.

Diaspora in the United States: Chinese and Indians Compared

2010 ◽  
Vol 6 (2) ◽  
pp. 286-310 ◽  
Author(s):  
Emily Skop ◽  
Wei Li
Keyword(s):  
United States ◽  
Racial Discrimination ◽  
20Th Century ◽  
The United States ◽  
Foreign Born ◽  
Migration Rates ◽  
China And India ◽  
History Of ◽  
Migrant Groups ◽  
The U.S

AbstractIn recent years, the migration rates from both China and India to the U.S. have accelerated. Since 2000 more than a third of foreign-born Chinese and 40% of foreign-born Indians have arrived in that country. This paper will document the evolving patterns of immigration from China and India to the U.S. by tracing the history of immigration and racial discrimination, the dramatic transitions that have occurred since the mid-20th century, and the current demographic and socioeconomic profiles of these two migrant groups.

The Detraditionalization of Intimacy Reconsidered

2005 ◽  
Vol 23 (3) ◽  
pp. 286-311 ◽  
Author(s):  
Neil Gross
Keyword(s):  
Intimate Relationships ◽  
The United States ◽  
Sexual Intimacy ◽  
Moral Communities ◽  
Cultural Frameworks ◽  
The World ◽  
Relative Decline ◽  
Modern Era ◽  
Late Modern ◽  
The U.S

This essay challenges those strains of contemporary social theory that regard romantic/ sexual intimacy as a premier site of detraditionalization in the late modern era. Striking changes have occurred in intimacy and family life over the last half-century, but the notion of detraditionalization as currently formulated does not capture them very well. With the goal of achieving a more refined understanding, the article proposes a distinction between “regulative” and “meaning-constitutive” traditions. The former involve threats of exclusion from various moral communities; the latter involve linguistic and cultural frameworks within which sense is made of the world. Focusing on the U.S. case and marshaling various kinds of empirical evidence, the article argues that while the regulative tradition of what it terms lifelong, internally stratified marriage has declined in strength in recent years, the image of the form of couplehood inscribed in this regulative tradition continues to function as a hegemonic ideal in many American intimate relationships. Intimacy in the United States also remains beholden to the tradition of romantic love. That these meaning-constitutive traditions continue to play a central role in structuring contemporary intimacy suggests that detraditionalization involves the relative decline only of certain regulative traditions, a point that calls into question some of the normative assessments that often accompany the detraditionalization thesis.

scholarly journals The Collapse of the Appellate Body as a Determining Factor of the WTO’s Future

2021 ◽  
Vol 16 (3) ◽  
pp. 238-255
Author(s):  
Hryhorii M. Kalachyhin ◽  
Keyword(s):  
Dispute Resolution ◽  
World Order ◽  
The United States ◽  
Economic Regulation ◽  
Trade Disputes ◽  
Appellate Body ◽  
The World ◽  
Shifting Balance ◽  
Wto Appellate Body ◽  
The U.S

The World Trade Organization (WTO) is one of the leading institutions involved in global economic regulation. Its purposes are to ensure multilateral cooperation on the liberalization of international trade, harmonize existing standards and requirements, and peacefully resolve trade disputes between countries. Since 11 December 2019, dispute resolution has been handicapped due to the consistent blocking of the appointment of members to the WTO Appellate Body (AB) by the United States. This has reduced the multilateral trading system’s (MTS) predictability and threatens its final decay. In this article, the fundamental and formal causes of the collapse are described, and its circumvention mechanisms and effectiveness are discussed. At the same time, an assessment is given of the possibility to overcome the collapse in 2021, considering the change of the U.S. president and other events. Special attention is paid to Russia’s position and its current and potential losses. Finally, the issue of dispute resolution through regional trade agreements is proposed for discussion. The fundamental reasons for the collapse were the shifting balance of power in the world order and the WTO’s inflexibility in adjusting the rulebook and its procedures. The main reasons for the U.S.’ dissatisfaction are objective but based on formalities; the blockage of the AB is an overreaction. Moreover, the U.S.’ position on this issue has not changed with the new president. As a result, there is abuse of the current situation as WTO members file appeals “into the void.” Existing tools to circumvent the collapse are partial and not yet popular among WTO members. Russia needs to resume the AB’s work to complete previously started high-profile disputes and to defend its interests in the future.

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