The Trade Deficit The Dollar And The U S National Interest
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The Trade Deficit, the Dollar, and the U.S. National Interest by Ernest H. Preeg Pdf
"Dr. Preeg answers these questions with a clear presentation of the relationship between U.S. trade and financial interests. He argues that the chronic trade deficit and the related buildup of foreign debt can have substantial adverse consequences for the United States, and that early actions are needed to increase the U.S. savings rate and to curtail mercantilist exchange rate polices by some trading partners. Many observers believe we do not need to worry about the trade deficit in this era of high growth and full employment. The Trade Deficit, the Dollar, and the U.S. National Interest is essential reading for anyone interested in a more concerned assessment of the prospects for America's economic future and geopolitical position."--BOOK JACKET.
Is the U.S. Trade Deficit Sustainable? by Catherine L. Mann Pdf
The global financial crisis of 1997-98 and the widening US trade deficit have precipitated fresh inquiry into a set of perennial questions about global integration and the US economy. How has global integration affected US producers and workers, and overall growth and inflation? Is a chronic and widening deficit sustainable, or will the dollar crash, perhaps taking the economy with it? If the problem was one of "twin deficits," as many thought, why has the trade deficit continued to grow even as the budget deficit narrowed to zero? If US companies are so competitive, why does the trade deficit persist? Is the trade deficit a result of protectionism abroad? Will it lead to protectionism at home? What role do international capital markets have? Each chapter presents relevant data and a simple analytical framework as the basis for concise discussions of these major issues. The final section of the book provides an outlook for the deficit and suggests alternative policy courses for dealing with it. This book is designed for policymakers and others who are interested in the US role in the world economy. It is also suitable for courses in international economics, business, and international affairs.
U.S. Manufacturing by Thomas J. Duesterberg,Ernest Preeg Pdf
Evolving rapidly from a mass-produced product orientation to a flexible, solutions-oriented model, the changing manufacturing sector is poised to lead a global economic recovery. Truly an insider's guide to the future of this critical sector, this book provides policy recommendations based on a wealth of information. Despite the appearance of difficult economic times for U.S. manufacturing, that sector of the American economy is actually the most innovative and competitive in the world. Far from being confined to the tired stereotype of Industrial Age commodities, such as steel and mass-produced consumer products, U.S. manufacturing has long been an engine for growth. In the 1990s, this central role was strengthened as new technology development and application spurred higher levels of growth throughout the economy. In its present configuration, manufacturing includes such high-tech industries as fiberoptics and microchips. Globalization has accelerated the growth of the manufacturing sector by increasing competitive pressures to cut costs and develop new products faster, spreading out the fixed costs of R&D and investment. Truly an insider's guide to the future of this critical sector, this book provides policy recommendations based on a wealth of information. Evolving rapidly from a mass-produced product orientation to a flexible, solutions-oriented model, the changing manufacturing sector is poised to lead a global economic recovery. But it can do so only if the right policies are in place in the United States. To that end, the editors of this volume recommend fiscal and tort reform, higher educational achievement, and continued deregulation. At the international level, further trade liberalization and steps to reduce the trade deficit are recommended to ensure the staying power of U.S. competitiveness, particularly for technology-intensive industries.
For over sixty years the United States has been the largest economy and most powerful country in the world. However, there is growing speculation that this era of hegemony is under threat as it faces huge trade deficits, a weaker currency, and stretched military resources. America's Global Advantage argues that, despite these difficulties, the US will maintain its privileged position. In this original and important contribution to a central subject in International Relations, Carla Norrlof challenges the prevailing wisdom that other states benefit more from US hegemony than the United States itself. By analysing America's structural advantages in trade, money, and security, and the ways in which these advantages reinforce one another, Norrlof shows how and why America benefits from being the dominant power in the world. Contrary to predictions of American decline, she argues that American hegemony will endure for the foreseeable future.
In recent years has become increasingly clear that both China and India are competing with the US for technological supremacy as well as market share. Preeg, whose credits include senior positions in finance and development in the US government as well as academic posts, gives policy makers in the private and public sectors fair warning as he analyzes the rise of science and technology in China and India, their development in trade and export competitiveness, the rise of Indian and Chinese multinational companies and their technological innovations, and the geopolitical and geostrategic dimensions of their move into technology. He also describes the response of the US, including recent international financial, trade and investment policy, domestic economic policy responses to international competition, and the future of the role of America as leader in what has become a triangular form of leadership.
U.S. Department of the Treasury's Report to Congress on International Economic and Exchange Rate Policy by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Pdf
In this important new book, C.H. Kwan asks whether the Japanese yen can, or will, replace the dollar as the key currency in East Asia. Kwan analyzes the implications for Japan and Asia's developing countries should they come together to form a yen bloc—a grouping of countries that use the yen as an international currency and maintain stable exchange rates against the yen. Combining academic analysis with his experience advising the Japanese prime minister and the Japanese minister of finance, Kwan concludes that a yen bloc might benefit Asia's developing countries—as well as Japan—while contributing to a more stable international monetary order. Kwan's book represents the first attempt to explore systematically the possibility of monetary integration in Asia. It also provides a vision for regional integration in Asia in the twenty-first century.
Exchange Rate Regimes for Emerging Markets by John Williamson Pdf
In the aftermath of the Asian/global financial crises of 1997-98, how should emerging markets now structure their exchange rate systems to prevent new crises from occurring? This study challenges current orthodoxy by advocating the revival of intermediate exchange rate regimes. In so doing, Williamson presents a reasoned challenge to the new prevailing attitude which claims that all countries involved in the international capital markets need to polarize to one of the extreme regimes (to a fixed rate with either a currency board or dollarization, or to a lightly-managed float). He concludes that although there is some truth in the allegation that intermediate regimes are vulnerable to speculative crises, they still offer offsetting advantages. He also contends that it would be possible to redesign them to be more flexible so as to reduce their vulnerability to crises.
Development-oriented Finance and Economy in China by Lixing Zou Pdf
In attaining economic globalization, China needs world economy, world economy also needs China. This book outlines the foundation of an analytically oriented public finance that intends to promote sound development of China, and discusses various contemporary topics, including the impacts of the tradition, the mechanisms of economic policies and operations, the modernization perspective and international trade conflict, as well as current rural issues and the legal environment in China. The book focuses on explaining China's special phenomena, and trying to provide answers to questions on 'why'. The intent of this book is to share the knowledge and experience that author has gained from working in China and the United States of America and to serve as an intellectual bridge for global investors, economists and market watchers in general to understand China better. "This Book is the story of an economic revival unlike anything seen before. It is the story of a "Mixed Economic System" that to date has achieved remarkable economic gains. It is a story of how directed investment with a purpose which combines Government to kick start free enterprise can work. It is also a story of trial and error and practical applications of capital flows based on measured results. It is a story that accentuates the value of pragmatism and flexibility to change course instead of slavish adherence to ideology. It is also a story of how much more needs to be done to spread the economic resurgence across all segments of the population and all regions of the Country. The Book is a "must study" for graduate students in economics and finance." A. Robert Abboud, former Chairmen of the First National Bank of Chicago, Chairman of First City Bank of Texas and President of Occidental Petroleum.
