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Global economic decline results in war
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Global economic decline results in war.Walter Russel Mead (Policy Analyst, World Policy Institute) 1992 Hundreds of millions--billions--of people have pinned their hopes on the international market economy. They and their leaders have embraced market principles--and drawn closer to the west--because they believe that our system can work for them. But what if it can't? What if the global economy stagnates--or even shrinks? In that case, we will face a new period of international conflict: South against North, rich against poor. Russia, China, India--these countries with their billions of people and their nuclear weapons will pose a much greater danger to world order than Germany and Japan did in the 30s. Relations good – global econ solvencyU.S. and China are the center of global growth – wealth center and modelingLew 16 ( Jacob J.,American government administrator and attorney who is the 76th and current United States Secretary of the Treasury and graduate of Harvard University, “ Prepared Remarks: Treasury Secretary Jacob J. Lew remarks on U.S.-China economic relations at the American Enterprise Institute”, June 16, 2016, America Enterprise Institute) https://www.aei.org/press/prepared-remarks-treasury-secretary-jacob-j-lew-remarks-on-u-s-china-economic-relations-at-the-american-enterprise-institute/ The United States and China are the two largest economies in the world, accounting for roughly one-third of total global output, and in recent years our countries have been the primary engines of global economic growth. Just as China benefits when our economy does well, America benefits as a growing China becomes a larger market for our goods and services. U.S. exports to China have roughly doubled since early 2009—substantially faster than in any other region of the world. As the world’s second-largest economy, disruptions in China can have negative consequences for the rest of the world, including here in the United States. Over the past year, China rattled global markets as exchange rate policy changes raised questions about how it would manage the transition to a more sustainable growth rate. And as China continues to grow, it is more important than ever that U.S. companies have the ability to compete on a level playing field—both within China and globally. We need to challenge China’s policies that disadvantage our firms and workers, whether they are currency practices, trade barriers, or excess capacity in industrial sectors. But our relationship is important beyond sheer market size and GDP. U.S. and Chinese leadership can be a catalyst to drive higher global standards and promote growth, fair trade, global development, and efforts to protect the environment. When our nations reach agreement, it becomes a magnet for others to join. Finally, a strong U.S.-China relationship has been integral to increasing the effectiveness of tools like financial sanctions. Close cooperation was critical in implementing sanctions on Iran and continues to be essential in responding to North Korea’s nuclear provocations. Download 357.18 Kb. Share with your friends:
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