scholarly journals Statistical Analysis of the Performance of a Big and Open Economy: The Case of the U.S.

Author(s):  
O. V. Zhuravliov ◽  
О. М. Simachova

The US economy is one of the richest and most diversified economies in the world and keeps its leadership in the global economy for the past 100 years. The United States is a global leader in computer technology, pharmaceuticals and the manufacture of medical, aerospace and military equipment. And although services make up about 80% of GDP, the US remains the second largest producer of industrial goods in the world and is a leader in research and development. President Donald Trump was elected in November 2016, promising a big gap with his predecessor’s regulatory, tax and trade policies. Therefore, the current socio-economic status of the USA and the possible ways of its development in the future are interesting for studying the impact on other economies, in particular, on the Ukrainian economy and the search for new and optimal ways of developing relations between the United States and Ukraine. Key macroeconomic indicators of the US economy in 2011–2018 are analyzed, demonstrating the influence of Donald Tramp’s new policy on changes in the indicators of the economy, the labor market, trade, etc., as well as possible ways of development in the coming years. The review of key macroeconomic indicators gives grounds for classifying the American economy as healthy one. Rates of GDP growth will remain in the range of 2 to 3%. These rates of growth in the world’s largest economy are callable to ensure a substantial increase in the global activity. But uncertainties in the politics may hinder global growth and have clearly negative impact on the investment growth in developed and developing economies.

2018 ◽  
Vol 74 (4) ◽  
pp. 402-419
Author(s):  
Krishnakumar S.

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.


2021 ◽  
Vol 2 (196) ◽  
pp. 17-25
Author(s):  
V.N. Minat ◽  

As part of the study of agricultural production, as one of the leading export-oriented sectors of the US economy, the dynamics of foreign trade in American agricultural products, which is objectively recognizable in the categorical and economic evolution of spatial patterns, is considered. The latter are considered in the context of the global regional structure of agricultural exports and imports of the United States in 1946–2019 and the features of stimulating the export of American agricultural products in the context of the main regions and countries of the world for the same period of time. Based on the synthesis of historical/evolutionary and spatial approaches, methodologically filled with methods of abstract-logical and statistical-economic analysis of official American statistics, the provisions on geo-economic conjuncture, expansionism and protectionism of US foreign trade in the world/global agricultural market are empirically proved.


Author(s):  
Jiang Junjing

Based on a wide range of sources, the article analyzes the impact of China's trade and economic relations with the United States. Several periods of interaction between countries after the end of World War II are considered. Special attention is paid to the period of restoration of diplomatic relations since 1979. Based on various sources and historiography, the author analyzes the researchers' points of view on the impact of economic issues on the relations between the two countries. In the course of the research, the author came to the conclusion that an important aspect in the direction of the foreign economic policy of the People’s Republic of China in the first post-war years was the ideological factor. The article presents an analysis of changes in the vector of China's foreign policy in different periods. The main ways of interaction between the United States and China are described, depending on changing foreign policy doctrines. The reforms launched in 1978 provided China with economic growth and a growing prestige on the world stage, which is still present today. The rapprochement between the United States and China after the collapse of the Soviet Union in 1991 brought certain economic benefits for the two countries. However, the aggravation of relations between the countries in the new Millennium provides an opportunity for new assessments of the PRC's position on the world stage. Trump’s coming to power in the United States is regarded as an economic war between the two countries. China's increased investment capacity and technological independence make it an attractive partner for other countries, which in turn has a negative impact on trade with America. The most important thing in this situation is the fact that the globalization of the world economy caused by scientific and technological progress, including the rather close interweaving of the US and Chinese economies, contradicts the national interests of both countries, which are trying to strengthen their positions and role in the world economy. Based on the analyzed material, the author comes to the conclusion that recently the foreign policy relations between China and the United States directly depend on the economic interests of the parties.


Communication ◽  
2018 ◽  
Author(s):  
Rodrigo Gómez García ◽  
Ben Birkinbine

The theory of cultural imperialism has its roots in critical communication scholarship and was used to describe the growing influence of the United States and its commercial media system around the world, specifically in the context of the Cold War, after the Second World War, when the United States and the Soviet Union were attempting to compel and persuade other countries to adopt their respective socioeconomic systems. The theory specifically focused on the ways in which US culture was being spread to and sometimes imposed upon developing nations by US communications and media corporations, by specific media products and their imagery and messages, and by the expansion of the private model of the media system. The critical edge to the theory was its staunch criticism of the strategies and tactics used by the United States in this regard and how the US communications and media system expanded and maintained the asymmetrical economic, political, and cultural power relations between the United States and other countries in the world system. Correspondingly, the theory was also used as a basis for arguing that those people who were subjected to cultural imperialism ought to be granted the right to develop their own sovereign national media systems. The struggle to develop those systems occurred within the context of national liberation struggles against the remnants of Western territorial colonialism and the new de-territorialized imperialism of both the US and Soviet empires. However, the theory was challenged on at least a couple different fronts. The first challenge came from cultural studies researchers who questioned the total homogenizing influences of mass-produced media content on audiences. Drawing from ethnographic and reception studies of audiences, these researchers demonstrated how American media influence was rarely as totalizing and complete as the cultural imperialism theory suggested. Rather, such commercial images and messages were also subject to local adaptation, indigenization and resistance and therefore not always influencing of audiences. A second line of critique focused more on the national economic and political structure of non-US media systems and whether those systems were directly influenced by the United States. Scholars within this area focused on ownership patterns and the structures of media systems, including the impact of dominant, far-reaching systems of government influence and industrial media production that establish prevalent media models or channels. In addition, these scholars focused on whether such systems enable or constrain alternative media forms and functions, and the degree to which they set routine parameters for discourse, thereby shaping the sociocultural norms that media tend to promote and the political and economic interests they routinely serve. Over time, these criticisms of the cultural imperialism thesis have been re-integrated within it, further strengthening its analytical value. Some scholars have sought to revise the theory by incorporating some of the criticisms, while others have tried to reemphasize the value of the original theory. Indeed, the theory’s utility continues to be debated, particularly in light of historical changes and other emergent trends that have reshaped the geopolitical economy of the global communication system. In addition to these ongoing debates, the theory has also shown dynamism in the way that it has been applied across various academic fields in the social sciences and the humanities.


2021 ◽  
Vol 1 (5) ◽  
pp. 154-177
Author(s):  
D. V. GORDIENKO ◽  

The paper considers the assessment of the influence of the Latin American component of the policy of the states of the strategic triangle "Russia-China-USA" on the national security of these countries. An approach to comparing the impact of the component is proposed, which makes it possible to identify the priorities of Russia's policy in Latin America and other regions of the world. The results of the work can be used to justify recommendations to the military-political leadership of our country.


2020 ◽  
Vol 17 (2) ◽  
pp. 56-65
Author(s):  
O. V. Ignatova ◽  
O. A. Gorbunova

The article is devoted to one of the urgent problems of the world economy: the trade opposition of the United States and China. Due to the fact that these countries occur to be the largest economies in the world, their conflict cannot in one way or another be reflected in other subjects of international economic relations. The article analyzes the main stages of the trade war between the United States and China and formulates the causes of the crisis.On the basis of a regional approach and analysis of statistical data it became possible to make an assessment of the effects that the US-PRC rivalry has on mutual trade, investment and energy cooperation between Russia and China. It is noted that in connection with the trade conflict, Russian-Chinese relations are reaching a new level of development, the number of joint economic projects is growing. However, the confrontation between the United States and China brings not only opportunities, but also risks for Russia. The authors make a forecast about the impact of the trade war on the economy of the Russian Federation in the short and medium term.


2019 ◽  
Vol 5 ◽  
pp. 1
Author(s):  
Anjala Kalsie ◽  
Ashima Arora ◽  
◽  

United States (US) and China are the two largest economies of the world, where the former is the biggest developed economy and the latter is one of the largest developing economies of the world. This paper implores to assess the cause and effect of the US-Sino Trade War. The attempt is to understand the reasons behind the same and its impact on warring economies and collateral damage to the economies of other countries. The experience establishes that trade wars have no winners. The war started in year 2018; the long-run effects of this trade war are still to be seen yet; till date the impact of this crisis has been substantial for both the US and China.


2019 ◽  
Vol 5 ◽  
pp. 1
Author(s):  
Olga V. Ignatova ◽  
Olga A. Gorbunova ◽  
Olga Yu. Tereshina ◽  
◽  
◽  
...  

The article is devoted to one of the urgent problems of the world economy: the trade opposition of the United States and China. Due to the fact that these countries occur to be the largest economies in the world, their conflict cannot in one way or another be reflected in other subjects of international economic relations. The article analyzes the main stages of the trade war between the United States and China and formulates the causes of the crisis. On the basis of a regional approach and analysis of statistical data, it became possible to make an assessment of the effects that the US–PRC rivalry has on mutual trade, investment, and energy cooperation between Russia and China. It is noted that in connection with the trade conflict, Russian–Chinese relations are reaching a new level of development, and the number of joint economic projects is growing. However, the confrontation between the United States and China brings not only opportunities but also risks for Russia. The authors make a forecast about the impact of the trade war on the economy of the Russian Federation in the short and medium term.


Author(s):  
Joseph P. Ferrie

Immigration has been a powerful force is the US economy right from the period of initial settlement in the early seventeenth century. It has been instrumental in building the nation’s infrastructure, transforming its manufacturing sector, and growing its labor force, as it transferred human capital from where it was initially generated (abroad) to where it was productively employed (the United States). This chapter surveys the impact on the economy, on the immigrants themselves, and on the Americans they joined in four eras: (1) settlement (1600s–1700s); (2) the first “Great Wave” (1800–1890); (3) the second “Great Wave” (1890–1920s); and (4) the post-1965 period.


2012 ◽  
Vol 4 (2) ◽  
pp. 218-248 ◽  
Author(s):  
Marek Kapic˘ka

I construct measures of technology capital and country openness for the US economy and the rest of the world for 1982–2007. The key identifying assumption is that firms equalize returns on tangible and technology capital. For the US economy, technology capital is about one-third of tangible capital, and the degree of openness is between 0.61 and 0.70. I provide both a two-country estimation and a multicountry estimation, and find that the US estimates are almost identical in both cases. The welfare loss from totally closing the US economy is small, but the welfare gain from totally opening the US economy is large. (JEL E22, F41, O30)


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