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The Usa In The World Trading System, Sven W. Arndt
The Usa In The World Trading System, Sven W. Arndt
CMC Faculty Publications and Research
The USA has been an important player on the post-war world economic stage, but for much of that period what happened in the world economy was not of much consequence to the majority of the country's citizens. Trade was, and in many ways still is, a small part of overall economic activity. To assess the importance of trade one has to go to sector- and industry-specific levels, where shifts in world demand and supply can affect wages, profits, employment and output. The public at large has a general sense that the US economy is becoming more 'globalized' and that this …
Trade And Financial Interdependence In The World Economy, Sven W. Arndt, Lawrence Bouton
Trade And Financial Interdependence In The World Economy, Sven W. Arndt, Lawrence Bouton
CMC Faculty Publications and Research
With regard to the trading order, questions have arisen about the benefits from freer trade at a time when more countries are turning to managed trade and protectionist sentiment is on the rise. Some believe that the international financial system, for its part, no longer facilitates the transactions of goods but dominates them. This article discusses these issues and addresses the policy options available to government leaders.