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All items tagged US economyOpen Think Tank ArticlesJuly 27, 2011 | Cutting the US Deficit: Listen to BillStewart Munn: Bill Clinton is right to use the UK economy as a warning of what can happen if deficit spending is cut too severely. If Republicans get their way in the ongoing deficit negotiations, America’s economy could be headed for a long, painful spell. US politicians should take heed. ... MoreAugust 5, 2008 | The Shadow of Serious Transformation in US Foreign Policyvalentine anatolevich akishkin: The economic downturn and the rise of new centers of power will lead to a shift in US foreign policy doctrine, allowing the country to readjust itself to new world challenges by employing more agreeable and less costly means. ... MoreGlobal Must Read ArticlesOctober 4, 2011 | Why Europe Shouldn't Listen to ObamaObama’s recommendation for Europe to increase spending as part of a wider-reaching economic stimulus is ill-advised. ++ Cheap credits and low interest rates have been at the heart of a failed US economic strategy. ++ Instead of promoting sustainable growth, the US government has been encouraging economic bubbles to form over the past several decades. ++ The US must bring competitive ... MoreFebruary 14, 2011 | America Secure in Global Leadership RoleRecent talk about the eclipse of America by China is false. ++ The fact is that despite its great wealth, the average yearly Chinese income is half that of Mexico. ++ In all likelihood, emerging and established democratic powers will shape global economics and politics well into the next century. ++ The real question is not whether these countries will catch up, but whether the US can continue to ... MoreJune 9, 2010 | Holding Big Oil Accountable OnlineThe oil spill in the Gulf of Mexico “must convince governments everywhere that the economic costs of poor regulation of the oil industry can be staggering.” ++ The “colossal disaster” was the result of U.S. regulators finding themselves in a tight spot. On the one hand, they are supposed to encourage oil production, while on the other hand policing the process. ++ ... MoreMay 25, 2010 | Wall Street Loves Tea PartyCorporate donations to the GOP are up by 10 percentage points this year. Traditionally Democratic securities and investment firms are also giving big, as are oil and gas companies. ++ Bankers are furious over tax increases on their private earnings. ++ “For grass-roots anger is being channelled and exploited by corporate interests, which will be the big winners if the G.O.P. does well in ... MoreFebruary 26, 2010 | Dumped Hummers Are for the BetterThe American hummer is an endangered specie. ++ 9000 of these “gas guzzlers” were sold this year against 71 000 in 2006. ++ Even the Chinese Communist Party is suspected to have rebuffed GM’s offer to buy the sinking brand because of its polluting reputation. ++ Americans seem to drive a little less and use public transportation more. ++ “Still, the Hummer’s tale is a vivid example of the ... MoreFebruary 3, 2010 | US Deficit Projected to Shift World OrderPresident Obama has projected that it will take at least ten years to eliminate America’s budget deficit. ++ The US could face a situation similar to the one Japan did—as its debt rose, its influence worldwide declined. ++ “How long can the world’s biggest borrower remain the world’s biggest power?” ++ For this reason, Obama hopes to wind down the war in ... MoreApril 16, 2009 | Neoliberal Capitalism Creates Missed OpportunitiesPresident Obama has changed the face of the US drastically, both nationally and internationally.++ When it comes to approaching the economic crisis however, Obama is missing out on an opportunity to find feasible alternatives to the system and its inequalities.++ Polls suggest that Americans are more open than ever to negotiating the harsh capitalist system.++ Instead, Obama and his team of ... MoreApril 3, 2009 | US Losing its "Immigrant Appeal"The United States is considered the destination of choice by immigrants the world over. Especially highly skilled immigrants regard the US as a land of endless possibilities and ever attractive prospects. However, more and more immigrants are turning their backs on the US. New studies show that above all people from India and China are moving back to their homeland in droves, hoping for better ... MoreFebruary 26, 2009 | A Fine Line Between Hope and FearThe White House’s comparisons between the US’ current financial situation and the Great Depression have created a necessary climate of fear in the country. ++ This crisis is both alarming and systemic and America must face up to its bad habits if it is to make it through to the other side. ++ However, if Obama is to honor his campaign promises, this anxiety-discourse must also be ... MoreFebruary 20, 2009 | Politics, Not Deregulation, Caused the CrisisQuotas for federal housing loans to poor Americans led to a huge increase in subprime loans. ++ Regulators could have stepped in, but thought that housing prices would increase steadily. ++ The crisis shows that we cannot help poor people by lending them more money than they can pay back. ++ The deregulation that has taken place has been exaggerated, and giving regulators more power would not ... MoreFebruary 18, 2009 | Disempowered Unions Explain Economic Crisis“Misshapen economic codependency of the US and China” lies at the heart of the economic crisis. ++ E. Asian exports are being left to gather dust in US warehouses whilst the US is paralyzed by debt accumulated to compensate for the consumers it lost through offshore labor. ++ The “dysfunctional duo” have more in common than they think, as the impotence of unions in both ... MoreFebruary 5, 2009 | Obama Must Stop Protectionism or See It SpreadProtectionist measures, like the proposed Buy American provisions in the US stimulus package, will not be taken lightly by other countries. ++ Even if measures followed WTO rules, China and India can retaliate. ++ Americans will “learn history, which they do not study enough at school, by seeing it repeated in their own lifetime.” ++ US accusations of Chinese currency manipulation are popular ... MoreFebruary 2, 2009 | Tax Payers Pay for Stockholders' MistakesThe Obama administration’s plan for rescuing the banking system is not the appropriate response to saving the financial system. ++ The problem goes beyond fairness considerations, “where taxpayers bear the cost if things go wrong, but stockholders and executives get the benefits if things go right.” ++ Times have changed, Greenspan is no longer the Maestro and bankers are no longer ... MoreJanuary 28, 2009 | Beware of the "Fiscal Straitjacket"The debate over the ways to revive the US economy has an explicit focus on the immediate and short-term: save the economy now. ++ But in the absence of a medium-term strategy, the stimulus plan will simply add to an already large deficit and the government will most likely find itself locked in a “fiscal straitjacket that could paralyze public sector action in critical areas for a decade ... MoreJanuary 27, 2009 | What's With the Republicans?Republicans are very slow to understand that their policies have worked against America. ++ Their illusions are reflected in their doubts over the President’s stimulus plan: they argue that it legitimates excessive spending at a time when the continuous shedding of labour requires conservative spending. ++ G.O.P policies which redistributed wealth to those on the top of the income ladder ... MoreJanuary 27, 2009 | Finally, the End of ImmigrationThe financial crisis may produce an “automated” solution to migration: as jobs lessen immigration currents are reduced. ++ In the US, the numbers of those “caught trying to sneak in […] from Mexico is at its lowest level since the mid-1970s.” ++ While many are sighing with relief, it should be remembered that it is thriving nations which attract immigration flows. ++ ... MoreJanuary 23, 2009 | The US Bubble Will Not Be Helped More DebtObama spoke of sacrifice, but the only ones sacrificing are the Chinese, Japanese and Saudis who fund America’s debt. ++ These countries are the sole creditor nations able to buy bonds to finance the spending expected by Americans. ++ Once they have invested, these creditors will be trapped, as any attempt to rid themselves of the bonds will collapse their value. ++ America is bloated: 5% of ... MoreJanuary 9, 2009 | Obama: Big On Words, Small On Action?When President Obama speaks of the current state of the US economy, his rhetoric reveals the gravity of the situation. ++ Yet, his actions fall short of his words, with US analysts arguing that his stimulus plan will do little to address the fast forming “output gap” and the expected upsurge in unemployment rates that will follow from lost production. ++ Whatever the reasons for his ... MoreNovember 20, 2008 | An Auto Bailout Would Damage Free TradeA bailout for the Big Three automotive companies could damage US engagement in the global economy. ++ Foreign investment and job insourcing would take a major hit, costing jobs and devaluing the dollar. ++ By expanding protectionist policies around the globe, the bailout would hinder US multinational businesses, including the Big Three auto-makers. ++ To keep up international competition, the US ... MoreOctober 30, 2008 | International Middle-Man FundInternational Monetary Fund resources are limited and might not handle all those requests from new, strategically located democracies like Pakistan, Ukraine and Hungary if things get too severe; however, the US, Japan and Europe should still borrow from the IMF when needed in order to ensure global stability without borrowing from Gulf Arab states, Russia or China, which would attach political ... MoreOctober 29, 2008 | But Words Can Never Hurt My Financial SystemEuropean financial schadenfreude and finger-pointing directed at the US might be premature crowing. ++ Not all roots to the crisis stem from New York, rather mainly from London and Frankfurt. ++ Blaming the US and calling for a new global financial order is “an excuse to restore European statism as official policy.” ++ History, especially Japan’s, has exhibited the superior ... MoreOctober 28, 2008 | Expansion Will Save World's Economy from the USA US recession is inevitable but stopping global downturn should be political leaders’ top priority. ++ Expansionary policies by the surplus economies of Asia and the Middle East could offset demand decline. ++ Coordinated expansion should include policy that prevents big banks from withdrawing credit overseas and swap lines between the US, EU, Japan and all main emerging markets. ++ The ... MoreSeptember 24, 2008 | Financial Fix Must be Clear and EfficientUrgent action to save the financial system is good, but current draft legislation is risky. ++ Congress should not rush into a decision but needs to concentrate on three things: quickly restoring financial stability with low cost, punishing those responsible, and addressing the cause of the crisis — the price collapse in the real-estate market. ++ The Treasury plan has major problems, ... MoreSeptember 22, 2008 | History Repeats its Financial SelfHistorically, reformers have always tried to stabilize activity through control of interest rates and money supply, but these are not consistently correlated. ++ The current crisis was foreseeable; booms cannot be eternal. ++ The world’s central bankers should first save the system. ++ Many want to raise the expansion rate as soon as possible, but the US election may make stabilization ... MoreAugust 25, 2008 | The US Can no Longer be the Importer of Last ResortAt the moment when most of the industrial world is in or near recession, a lot of global economic momentum comes from authoritarian regimes that concentrate on accumulating wealth rather than on raising the standard of life of their people. ++ Rising prices of oil are causing a substantial flow of capital from the emerging countries to the industrial ones. ++ With the economic slowdown it ... MoreJuly 25, 2008 | The Clash of CapitalismsThe ascendancy of Anglo-American capitalism has been an illusion - as proven by the credit crisis which originated in the US. ++ Apart from this model, there are different forms of state capitalism developing in China, Russia, the Middle East, and South America. ++ In principle, the existence of different forms of capitalism is healthy, but the attempt of each capitalism to assert its own ... MoreJuly 10, 2008 | China's Growing Economy Might Bust the Oil BubbleEconomists are baffled why higher oil prices and higher demand has not lead to higher production. ++ The answer is: the “China bubble.” ++ Oil producing countries are leaving oil in the ground, in hopes that China’s consumptions and readiness to pay higher prices will increase over time. ++ Low US interests rates deter further drilling, as invested US Dollars are less lucrative. ... MoreMay 27, 2008 | A Love/Hate Relationship: US Dollar and Oil PricesHigh oil prices are tied to a weak US dollar. ++ The single-currency pricing of the oil market means that in the long run, a weak dollar reduces production while simultaneously increasing consumption. ++ This increase in demand and decrease in supply correlates with higher prices, and unless US fuel consumption patterns change or the dollar rebounds, the US, rather than the world as a whole, will ... MoreMay 26, 2008 | McCain is a Better Choice for EuropeEuropeans’ support for Obama based solely on his Democratic credentials ignores his resistance to free trade which is something on which Europe depends. ++ “His ‘Invest in America’ policy can hardly be topped as protectionist mindset, and his ‘Fair Trade’ policies would lead to a restriction of world trade.” ++ Despite looming years of economic austerity and the US’s loss of power, both Clinton ... MoreMay 19, 2008 | Sovereign Wealth Funds Are Only a SymptomForeign direct investment by sovereign wealth funds from oil-producing and Pacific Rim nations has many Americans worried about the impact on financial markets. ++ However, the lack of transparency poses a greater problem for the country of origin than the host. ++ Of greater concern for the US are the political ramifications. ++ Large assets in autocratic regimes undermine democratization and ... MoreMay 13, 2008 | Finance: US and Japan Only Similar in SymptomsThe current problems of the US financial sector are often compared to those of Japan in the 1990s. ++ While there are many similarities, there are significant structural differences that suggest that a different remedy is required in the case of the US economy. ++ US banks, under greater pressure from the market, were quicker to acknowledge their losses and raise private-sector capital. ++ A ... MoreApril 29, 2008 | The Hysterical Fear of SWFs in UnjustifiedWestern politicians should avoid spreading alarm concerning the size and wealth of SWFs and turning their regulation into a restriction of foreign investment in general. ++ Caution is advisable but SWFs have till now been apolitical model investors. ++ SWFs may even prove instrumental for future political and economic stability as their direct stake in American and European prosperity continues ... MoreApril 28, 2008 | Americans Are Growing Skeptical of GlobalizationInternationalist economic policy is no longer perceived to be in the interest of the working population in the US. ++ A new internationalism that mitigates adverse effects – inequality and insecurity – is required to maintain America’s commitment to an integrated global economy. ++ US should acknowledge the long term advantages of globalization as an indubitable producer of ... MoreApril 23, 2008 | A Rising Euro Threatens American DominanceThe Fed is undermining global confidence by flooding the economy with new dollars while it should in fact be pursuing direct and targeted intervention. ++ Since US global purchasing power is used for humanitarian, economic or military purposes, a further fall of the dollar will damage US political influence. ++ The rise of transactions in Euros neuters US ability to control financial flows to ... MoreApril 15, 2008 | No Decline of the West but a Rise of the RestThe threats to US supremacy tend to be overstated. ++ China and Russia won’t achieve global domination while the post war arrangement goes on. ++ Yet to contain the progress of autocracy, protect and promote liberalism, and maintain its global power, the US should lead a democratic front within the framework of international institutions and cease discrediting its model with inappropriate ... MoreApril 8, 2008 | Fundamentalist Fallacy, New Paradigm Needed!The current housing mortgage crisis points to a general problem in finances. ++ Financial authorities and institutions are guided by market fundamentalism. ++ Their success has reinforced the misconception that markets are self-correcting, but current events show regulation is necessary. ++ To establish a clearing house or cutting foreclosures should be a priority. ++ Government intervention is ... MoreMarch 19, 2008 | Bear Stearns Collapse Good for Wall Street and WorldThe Bear Stearns collapse forces Wall Street to finally face reality and end the culture of easy lending. ++ US recession combined with a Democratic president in November will spell protectionist legislation. ++ The biggest threat the American financial crisis will have on the rest of the world will be politicians blaming foreigners. ++ A rebalancing between the dollar and Asian currencies will ... More |
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