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751. U.S. Commercial Diplomacy

Author:
Raymond J. Albright, S. Robbin Johnson, David J. Rothkopf, Christopher B. Johnstone, and Gary C. Hufbauer
Publication Date:
05-1998
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
In the larger scheme of U.S. trade, government financing agencies do not loom as large as fiscal and monetary policies, dollar exchange rates, the World Trade Organization (WTO), and the North American Free Trade Agreement (NAFTA). Yet, the acronym financial agencies—the Export–Import Bank (Ex–Im), Overseas Private Investment Corporation (OPIC), and Trade Development Agency (TDA) —are prominent in the current debates of what is needed to keep American exports competitive, especially in the most dynamic areas of U.S. trade growth—Asia and Latin America.
Topic:
Foreign Policy, Diplomacy, and International Political Economy
Political Geography:
United States, Latin America, and North America

752. U.S.-European Economic Relations And World Trade

Author:
Robert D. Blackwill and Kristin Archick
Publication Date:
04-1998
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
Much debate exists over the likely effects of U.S.-European economic relations on the future viability of an invigorated transatlantic partnership. Some of those who perceive largely positive dynamics between the two sides of the Atlantic in trade and investment assert that the U.S.-European commercial relationship will serve importantly to undergird the Western Alliance in the period ahead, contributing to further deepening of political and security cooperation. Others, however, argue that in light of the end of the Soviet threat and the quickening pace of globalization, transatlantic competition and diverging economic priorities are likely to threaten increasingly the cohesion and unity of the Atlantic Alliance. This paper first explores indicators that signal the continuation of a robust trade and investment relationship across the Atlantic, then discusses possible challenges to maintaining close commercial ties between the United States and the European Union (EU), continues with a survey of policy prescriptions offered by various experts to manage the economic aspects of the partnership, and finally returns to the question of the effects on broad U.S.-European cooperation of transatlantic economic interaction.
Topic:
International Political Economy
Political Geography:
United States and Europe

753. The United States, Europe, and Asia

Author:
Robert D. Blackwill and Kristin Archick
Publication Date:
04-1998
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
Despite Asia's recent currency troubles, most strategists and economic experts believe that in the period ahead Asia will continue to be one of the most dynamic regions of the globe and pose one of the biggest strategic challenges for the West. The United States and Europe are already closely intertwined with East Asia economically, and the region's future potential for economic development remains extraordinary. As Asia's global economic weight increases, its political influence on the world stage will likely do the same. Similarly, as the West's economic interdependence with East Asia grows, any breach of the peace in the region will importantly affect the United States and Western Europe.
Political Geography:
United States, Europe, and Asia

754. The United States, Europe, and the New Security Threats

Author:
Robert D. Blackwill and Kristin Archick
Publication Date:
06-1998
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
Transnational challenges, which range from the proliferation of weapons of mass destruction (WMD) to environmental problems to migration, have been receiving greater attention in foreign policymaking circles on both sides of the Atlantic since the end of the Cold War. Some strategists assert that many of these issues represent new threats to the security of the nation-state and to the stability of the international community. The globalization of financial markets, the spread of advanced technologies, and the rapid diffusion of information have combined to produce an increasingly interdependent world and call into question the significance of geopolitical boundaries. Cyberterrorism renders important information systems vulnerable. International organized crime and its attendant money laundering weakens the stability of global finances. Precisely because these new threats cross territorial borders, they also blur the dividing line between foreign and domestic policy. Civil strife within the territory of one state, for example, may become internationalized if it produces refugee flows into another.
Topic:
Security
Political Geography:
United States

755. The Tests of War and the Strains of Peace

Author:
Harold Brown, Bruce Stokes, Richard L. Armitage, and James J. Shinn
Publication Date:
04-1998
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
The U.S.-Japan security relationship is far too important to peace and stability in Asia to allow it to simply wither away or to be destroyed by a crisis. But the relationship is not sustainable in the form that served it so well during the Cold War. To weather both the "tests of war" and the "strains of peace," the alliance must be strengthened by adapting to the new realities and security challenges of the 21st century. The revision of the U.S.-Japan Guidelines for Defense Cooperation, announced September 23, 1997, was an important step in that direction. But the Japanese Diet must still pass laws implementing these changes. More broadly, Japan must: make the case directly and convincingly to the Japanese public that closer security ties with the United States are in Japan's self interest; agree to engage in explicit defense cooperation so that Japanese forces can be "planned in" rather than "planned out" of U.S. military operations in a range of Asian regional contingencies; engage in a serious dialogue with the United States on long term weapons acquisition plans, including some commitment by Japan to Theater Missile Defense. For its part, the United States must: convince the American public and the Congress that a continued security relationship with Japan is essential to the United States; increase the flexibility of the Pentagon regarding the basing of its troops in Asia, including its forces in Japan, and especially in Okinawa; clearly commit to keep the Japanese security alliance as America's premier security relationship in Asia. And both nations need to: cooperate more closely in gathering and sharing intelligence; coordinate more actively on nuclear nonproliferation and counterterrorism activities; enhance mutual political consultation so that in a crisis Japan shares more authority in as well as responsibility for the alliance. These changes should be implemented at a deliberate pace with a careful eye to the political climate and the art of the possible in Washington, Tokyo, and other Asian capitals. Only in this way can the U.S.-Japan security relationship be adapted to the challenges that lie ahead.
Topic:
Security
Political Geography:
United States, Japan, and East Asia

756. Promoting U.S.. Economic Relations With Africa

Author:
Salih Booker, Peggy Dulany, and Frank Savage
Publication Date:
04-1998
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
Significant positive developments in Africa have recently created a sense of economic and political renewal throughout much of the continent. Over two-thirds of African countries are implementing economic policy reforms that emphasize growth, private-sector development, and greater openness to the global economy. Aggregate growth rates for these 35 African countries in 1995 and 1996 averaged 5 percent, more than twice the rates of the previous decade. A new generation of leadership in Africa is promoting a reform agenda that offers important opportunities for rapid economic growth and increasing African countries' participation in the global economy. Now that an increasing number of African countries are becoming strong candidates as potential trade and investment partners, the United States should be at the forefront of the industrialized world in pursuit of these new opportunities. Recognizing the favorable economic and political trends occurring in most African countries, the Council on Foreign Relations--while taking no position on the subject as an organization--sponsored an independent Task Force of distinguished private citizens, committed to strengthening American ties with Africa, to make recommendations on how best to advance mutual U.S. and African interests in the sphere of economic relations.
Topic:
International Political Economy
Political Geography:
Africa and United States

757. Shaping U.S.-China Relations: A Long-Term Strategy

Author:
Michel Oksenberg and Elizabeth Economy
Publication Date:
04-1998
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
The rise of China in world affairs is a major feature of our era. An increasingly contentious debate has erupted in the United States over how to respond to this development. Figuring out a successful policy toward China is no easy task, but any sound strategy must be rooted in a sense of history.
Topic:
International Political Economy
Political Geography:
United States, China, and Asia

758. The American Economy and the East Asian Crisis: Deconstructing Goldilocks

Author:
Thomas I. Palley
Publication Date:
04-1998
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
Over the last nine months the global economy has been roiled by a financial crisis that has moved through Thailand, Malaysia, Indonesia, and South Korea. Japan has also been affected by its wake, as has Russia. So too has Latin America, where Brazil has had to raise interest rates substantially to fend off an incipient currency crisis.
Topic:
Economics
Political Geography:
Russia, United States, Japan, Asia, and Brazil

759. The Principles of Korea's Economic Reform

Author:
Jong-Keun You
Publication Date:
04-1998
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
Ladies and gentlemen, and distinguished guests! I am greatly honored to speak to you about Korea's economic reform. In the resolution of any financial crisis, including the current crisis in Korea, we need the concerted effort of the international community. Your presence here signals a growing awareness of it. Indeed, without support from the U.S. and the international community, Korea would not have been able to achieve the visible progress towards economic recovery that you have witnessed since last December.
Topic:
Emerging Markets
Political Geography:
United States, East Asia, and Korea

760. Differentiated Containment: U.S. Policy Toward Iran and Iraq

Publication Date:
01-1998
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
The Persian Gulf is one of the few regions whose importance to the United States is obvious. The flow of Gulf oil will continue to be crucial to the economic well–being of the industrialized world for the foreseeable future; developments in the Gulf will have a critical impact on issues ranging from Arab–Israeli relations and religious extremism to terrorism and nuclear nonproliferation. Every president since Richard Nixon has recognized that ensuring Persian Gulf security and stability is a vital U.S. interest.
Topic:
Security and Foreign Policy
Political Geography:
United States, Iraq, Iran, and Middle East