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1. The United States and the Global Future

Author:
Banning Garrett, James B. Steinberg, David Ignatius, and Uri Dadush
Publication Date:
03-2012
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
How will the US economy evolve over the next twenty years and what might be the impact of various US economic scenarios on the global system? Will the United States have a Japan-like decade or two of anemic growth? If so, would this lead the United States to reduce its foreign involvement and commitments, become more protectionist, and focus on its internal problems? Or will the United States solve its fiscal and debt problems, reinvigorate growth and innovation, and return to sustainable economic growth? Would this underpin a renewed commitment to active US global leadership in mobilizing international cooperation to manage security, economic growth, and global challenges?
Topic:
Foreign Policy, Debt, Economics, International Trade and Finance, and Hegemony
Political Geography:
United States and North America

2. Global Rebalancing: The Dangerous Obsession

Author:
Uri Dadush
Publication Date:
02-2011
Content Type:
Policy Brief
Institution:
Carnegie Endowment for International Peace
Abstract:
The current emphasis on global rebalancing—which aims to reduce trade deficits and surpluses—is misguided. Trade deficits and surpluses narrowed significantly during the Great Recession, can be financed and eased over time, and are largely the result of domestic forces—making further global rebalancing unlikely. The obsession with global rebalancing stokes currency and protectionist tensions and diverts attention from what is really needed—reforms at home. Rather than focusing on global rebalancing, countries should concentrate more on fixing their domestic problems and expanding their domestic demand at the maximum sustainable rate.
Topic:
Debt, Globalization, International Trade and Finance, Global Recession, and Financial Crisis