America's Trade Follies: Turning Economic Leadership into by Bernard K. Gordon

By Bernard K. Gordon

America's alternate Follies controversially argues that the worldwide political economic system is hardening into neighborhood blocs, in North the US, Latin the US, Europe and the Asia Pacific, equipped round a robust financial base and suspicious of one another. Bernard okay. Gordon's masterful research exhibits that this department threatens American prosperity via restricting US entry to the world's richest and biggest markets, and endangers US safety via dividing the globe alongside fiscal and political strains. Provocative, unique and stimulating this publication is key interpreting for all these attracted to American politics, exchange and foreign political economic system.

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By Bernard K. Gordon

America's alternate Follies controversially argues that the worldwide political economic system is hardening into neighborhood blocs, in North the US, Latin the US, Europe and the Asia Pacific, equipped round a robust financial base and suspicious of one another. Bernard okay. Gordon's masterful research exhibits that this department threatens American prosperity via restricting US entry to the world's richest and biggest markets, and endangers US safety via dividing the globe alongside fiscal and political strains. Provocative, unique and stimulating this publication is key interpreting for all these attracted to American politics, exchange and foreign political economic system.

Show description

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The best and most important example of that reality is US exports to Japan, an example worth close examination for two reasons. The first is that deficits first entered America’s consciousness as an important public policy issue largely as a result of trade with Japan, and that subject now needs to be reexamined. The second reason is that the record of US exports to Japan contains important lessons on a wider issue: the ability of American products and firms to compete successfully abroad. We will close this chapter with a discussion of both issues.

It was valued at $750 million, and would be capable of producing 100,000 cars annually for the then-growing Southeast Asian market. As inducements, both Thailand and the Philippines offered relatively cheap labor, but in practice the competition focussed on more specific differences. Thailand had two main advantages: an existing network of Japanese auto-parts suppliers, which meant a labor force already attuned to the production of cars and trucks; and a higher rate of economic growth, which implied a larger domestic market.

5 These events are worth recalling for two reasons: first because they are a reminder that economic regionalism comes in several shapes – in this case as a currency issue – and second because they show how topics that seem to be about “only economics” quickly become intensely political. After all, the Euro’s advent was intended to promote economic integration, but it was nevertheless seen immediately in strongly competitive political terms. A good illustration came at a meeting of French and British Regionalism in Europe 35 leaders, who were discussing the meaning of the Euro just weeks after it was introduced.

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