The Futility and Risk of Balancing US Trade - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Futility and Risk of Balancing US Trade write by Herbert Grubel. This book was released on 2018. The Futility and Risk of Balancing US Trade available in PDF, EPUB and Kindle. US trade policies designed to increase employment by balancing international trade with the rest of the world will fail to reach their objectives as long as the current large fiscal deficit exists and net imports are needed to compensate for the resultant domestic excess of demand over production.While the government's trade policies will fail, they are endangering a profitable business that is based on the world's confidence in the future stability and value of the exchange rate, credit-worthiness of the federal government and the growth and relative size of the US economy in the world.This business involves the literal printing of US currency notes acquired by foreign agents who use it in legal, illegal and underground transactions as well as a store of value. In 2017 the holding of US currency (mostly $100 notes) held outside the United States increased by $200 billion. Foreigners paid for these notes in exchange for goods and services of equal value. Since it costs virtually nothing to produce the notes, the $200 billion is a net addition to US national income.Foreign central banks in 2017 held $6.1 trillion in short-term US Treasury securities requiring the payment of interest much lower than the interest on longer term assets and investments the US Treasure can acquire with the funds received upon the sale of the securities to the foreign central banks. Assuming the difference in earnings on short and long term assets to be four percent, the US Treasury in 2017 earned $244 billion, which is used to reduce the fiscal deficit.
The Long Game
The Long Game - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Long Game write by Rush Doshi. This book was released on 2021-06-11. The Long Game available in PDF, EPUB and Kindle. For more than a century, no US adversary or coalition of adversaries - not Nazi Germany, Imperial Japan, or the Soviet Union - has ever reached sixty percent of US GDP. China is the sole exception, and it is fast emerging into a global superpower that could rival, if not eclipse, the United States. What does China want, does it have a grand strategy to achieve it, and what should the United States do about it? In The Long Game, Rush Doshi draws from a rich base of Chinese primary sources, including decades worth of party documents, leaked materials, memoirs by party leaders, and a careful analysis of China's conduct to provide a history of China's grand strategy since the end of the Cold War. Taking readers behind the Party's closed doors, he uncovers Beijing's long, methodical game to displace America from its hegemonic position in both the East Asia regional and global orders through three sequential "strategies of displacement." Beginning in the 1980s, China focused for two decades on "hiding capabilities and biding time." After the 2008 Global Financial Crisis, it became more assertive regionally, following a policy of "actively accomplishing something." Finally, in the aftermath populist elections of 2016, China shifted to an even more aggressive strategy for undermining US hegemony, adopting the phrase "great changes unseen in century." After charting how China's long game has evolved, Doshi offers a comprehensive yet asymmetric plan for an effective US response. Ironically, his proposed approach takes a page from Beijing's own strategic playbook to undermine China's ambitions and strengthen American order without competing dollar-for-dollar, ship-for-ship, or loan-for-loan.
Clashing Over Commerce
Clashing Over Commerce - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Clashing Over Commerce write by Douglas A. Irwin. This book was released on 2017-11-29. Clashing Over Commerce available in PDF, EPUB and Kindle. A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs
Economics and National Security
Economics and National Security - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Economics and National Security write by Dick K. Nanto. This book was released on 2011-03. Economics and National Security available in PDF, EPUB and Kindle. Contents: (1) National Security (NS) and the Congressional Interest; 21st Century Challenges to NS; (2) The Role of the Economy in U.S. NS; Macroecon. and Microecon. Issues in NS; (3) Economic Growth and Broad Conceptions of NS: Human Capital; Research, Innovation, Energy, and Space; (4) Globalization, Trade, Finance, and the G-20; Instability in the Global Economy; Savings and Exports; Boosting Domestic Demand Abroad; Open Foreign Markets to U.S. Products and Services; Build Cooperation with International Partners; Deterring Threats to the International Financial System; (5) Democracy, Human Rights, and Development Aid; Sustainable Development. Charts and tables. This is a print on demand publication.
China’s Grand Strategy
China’s Grand Strategy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook China’s Grand Strategy write by Andrew Scobell. This book was released on 2020-07-27. China’s Grand Strategy available in PDF, EPUB and Kindle. To explore what extended competition between the United States and China might entail out to 2050, the authors of this report identified and characterized China’s grand strategy, analyzed its component national strategies (diplomacy, economics, science and technology, and military affairs), and assessed how successful China might be at implementing these over the next three decades.
