Foreign Expansion as an “Institutional Necessity” for U.S. Corporate Capitalism: The Search for a Radical Model

1973 ◽  
Vol 25 (3) ◽  
pp. 369-386 ◽  
Author(s):  
Theodore H. Moran
Keyword(s):  
International System ◽  
Private Investment ◽  
The United States ◽  
Internal Dynamics ◽  
National Interests ◽  
Corporate Capitalism ◽  
American Capitalism ◽  
Foreign Private Investment ◽  
Radical Model ◽  
The U.S

Is foreign economic expansion in some sense an “institutional necessity” for corporate capitalism in the United States? Is there something inherent in the internal dynamics of American capitalism that creates such strong pressures for foreign private investment that the U.S. Government must consider the creation and preservation of an international system that facilitates such expansion to be among our most vital national interests? What yardstick can measure the opportunities, the needs, die necessity of investing abroad, or tie cost and risk if tiie option of foreign private investment is threatened

scholarly journals Managing the Dollar Over Its Cycles

2021 ◽  
Author(s):  
Lawrence L. Kreicher ◽  
Robert N. McCauley
Keyword(s):  
Foreign Exchange ◽  
Foreign Exchange Market ◽  
Private Investment ◽  
The United States ◽  
Exchange Market ◽  
Foreign Exchange Intervention ◽  
Traded Goods ◽  
Service Production ◽  
Withholding Tax ◽  
The U.S

AbstractThe United States has ceded to the rest of the world managing the dollar’s value. For a generation, the U.S. authorities have all but withdrawn from the foreign exchange market. Yet the dollar does not float freely as a result of this hands-off U.S. policy. Instead, other authorities manage the dollar exchange rates, albeit separately. These authorities make heavier purchases of dollars in its downswings than in the upswings, damping its decline. Thus, the Fed finds that accommodative monetary policy transmits less to U.S. manufacturing and traded services, and relies on still lower rates to stimulate interest-sensitive housing and auto demand. The current U.S. dollar policy of naming and shaming surplus-running countries accumulating foreign exchange reserves does not seem to work. Three alternatives warrant consideration. First, the U.S. could reinstate its withholding tax on interest income received by non-residents and even add policy criteria to bilateral tax treaties. Second, the U.S. authorities could retaliate by selling dollars against the currencies of dollar-buying jurisdictions running chronic surpluses. However, either the withholding tax or such retaliatory foreign exchange intervention pose huge practical challenges. Third, the U.S. authorities could re-enter the foreign exchange market, making large-scale asset purchases in foreign currency when the dollar rises sharply against its average value. Such a policy would encourage private investment in U.S. traded goods and service production. The challenge is to set ex ante foreign exchange intervention rules to guide market participants’ expectations, even positioning them to do the authorities’ work.

scholarly journals Is China Trying to Push the U.S. out of East Asia?

2015 ◽  
Vol 01 (01) ◽  
pp. 59-84 ◽  
Author(s):  
Dong Wang
Keyword(s):  
United States ◽  
East Asia ◽  
International System ◽  
The United States ◽  
Willingness To Participate ◽  
Monroe Doctrine ◽  
Western Discourse ◽  
The Future ◽  
Regional Order ◽  
The U.S

One of the key questions for understanding the future trajectory of regional order is whether or not China is trying to push the United States out of East Asia and build a China-dominated regional order. Some Western analysts accuse China of pursuing the Monroe Doctrine and excluding the United States from the region. This article argues that the Western discourse of China practicing the Monroe Doctrine is a misplaced characterization of China's behavior. Rather than having intention of pushing the United States out of East Asia and build a China-dominated regional order, China is pursuing a hedging strategy that aims at minimizing strategic risks, increasing freedom of action, diversifying strategic options, and shaping the U.S.' preferences and choices. This can be exemplified in five issue areas: China's ties with the Association of Southeast Asian Nations (ASEAN), the Shanghai Cooperation Organization (SCO) and China's foreign policy activism, China-Russia relations, the Conference on Interactions and Confidence-Building Measures in Asia (CICA) and the New Asian Security Concept, as well as China-U.S. relations. Beijing has explicitly acknowledged the U.S. predominance in the international system and reiterated its willingness to participate in and reform the existing system. It concludes by suggesting that, for a more peaceful future to emerge in East Asia, the United States and China, as an incumbent power and a rising power, will have to accommodate each other, and negotiate and renegotiate the boundaries of their relative power, as well as their respective roles in the future regional order where Beijing and Washington would learn to share responsibilities and leadership.

The Paleoconservative Critique of Global Capitalism

2017 ◽  
pp. 167-189
Author(s):  
Peter Kolozi
Keyword(s):  
United States ◽  
Free Trade ◽  
American Culture ◽  
The United States ◽  
Immigrant Population ◽  
Global Capitalism ◽  
National Interests ◽  
Capitalist Economy ◽  
Corporate Profits ◽  
The U.S

The paleoconservative critique of capitalism offered by Patrick Buchanan and Samuel Francis focuses on the threat to national independence and the nation’s culture and values by free trade. For paleoconservatives, the United States’ independence is undermined by a business class that prioritizes corporate profits over national interests. Likewise, the global capitalist economy has opened the U.S. to an immigrant population that has gradually eroded the values of white “middle Americans,” the population that is the repository of a unique American culture.

scholarly journals Road to a Great Monetary Power

2015 ◽  
Vol 01 (02) ◽  
pp. 265-282 ◽  
Author(s):  
Wei Li ◽  
Han Su
Keyword(s):  
International System ◽  
International Monetary System ◽  
The United States ◽  
Strategic Competition ◽  
Monetary System ◽  
Salient Dimension ◽  
Economic Engagement ◽  
Monetary Order ◽  
Reform And Opening Up ◽  
The U.S

Since the beginning of its reform and opening up over three decades ago, China has taken great efforts to integrate into the GATT/WTO-centered international trade system and the U.S. Dollar-centered international monetary system. By using the U.S. Dollar as the principal currency in its international economic engagement while exercising strict capital controls domestically, China has practically adopted a U.S. Dollar-dependent strategy to promote export, attract foreign investment, and maintain financial security, thus it has achieved lasting economic growth. However, with the declining credibility of the U.S. Dollar due to the U.S. financial crisis in 2008, and the increasing strategic competition between China and the United States, more and more Chinese in the policy and academic circles are skeptical of China's highly dependent monetary policy. Since 2009, China has begun to adopt a more proactive international monetary strategy by taking such measures as promoting the internationalization of the RMB, initiating new reforms of the international monetary system, and fostering a new regional monetary order. Such changes imply that China is changing its role: moving from being a dependent to a reformer of the U.S. Dollar system, which reflects a salient dimension of the evolving relationships between China and the broader international system.

scholarly journals How Does Neo-liberalism Explain the Likelihood of China’s Threat Towards United States’ Hegemony in the 21stCentury

2016 ◽  
Vol 4 (1) ◽  
pp. 20
Author(s):  
Dennyza Gabiella
Keyword(s):  
United States ◽  
International System ◽  
The United States ◽  
South East Asia ◽  
Potential Threat ◽  
National Interests ◽  
The One ◽  
China Threat ◽  
Liberal Perspective ◽  
Threat Theory

By means of neo-liberal perspective and supported by empirical evidences, this essay argues that despite the neo-realists’ assumption of China’s potential threat over the current liberal international system (which is led by the United States as the hegemonic state), China’s tremendous economic rise can be accommodated peacefully for two reasons. The first reason is that China’s economic rise itself is enabled by the existing liberal international system, which perpetuated by the United States’ and its allies. Whereas the second reason is because it is less costly for the one-party-rule China to achieve its national interests by maintaining a cooperative strategic relationship with the United States compared to challenging the United States’ leadership and revising the current liberal international system. This essay will be organized into three main parts. The first part of this essay will elaborate the theoretical debate between neo-realism and neo-liberalism perspectives and their assumptions about the ‘China Threat Theory’. The second part will provide empirical evidences to support the analysis of China’s likelihood to challenge United States’ hegemony in the 21st century based on the neo-liberalism perspective. The third part will analyse the potential of China to become the regional hegemonic power in South East Asia, and then followed by a conclusion.

The U.S. and Angola: Policy Choice

Worldview ◽  
1981 ◽  
Vol 24 (8) ◽  
pp. 19-20
Author(s):  
John A. Marcum
Keyword(s):  
United States ◽  
Foreign Policy ◽  
The United States ◽  
Carter Administration ◽  
Policy Choice ◽  
National Interests ◽  
Policy Objectives ◽  
Bilateral Cooperation ◽  
External Intervention ◽  
The U.S

Contrary to popular perceptions, the governments of the United States and Angola share a core of compatible foreign policy objectives. Each government, for its own reasons, believes that its national interests may be best served by reducing border conflict and external intervention in highly flammable Southwest Africa. This congruence of interests became increasingly apparent and even led to a measure of bilateral cooperation dur ing the last years of the Carter administration.

scholarly journals Economic Growth, Public and Private Investment: A Comparative Study of China and the United States

2020 ◽  
Vol 12 (6) ◽  
pp. 2243
Author(s):  
Ibrahim Ari ◽  
Muammer Koc
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Private Investment ◽  
The United States ◽  
Domestic Product ◽  
Public And Private ◽  
Macroeconomic Factors ◽  
Causal Relations ◽  
Sustainable Economic Growth ◽  
The U.S

Public and private investments play a central role in production functions by providing the required capital for development. There are many studies in the literature investigating the linear macroeconomic relations based on public and private investment in cross-country and country-specific analyses by focusing on various perspectives and methodologies. However, there is a gap in the literature in exploring nonlinear causal relations among public-private investment and economic growth, particularly in the U.S. and China, in order to comparatively discuss policy implementations and potential implications. To narrow the gap, this study investigates nonlinear causal relationships between public-private investment and gross domestic product in the U.S. and China, which are the largest economies comprising about 40 percent of the global gross domestic product (GDP) in 2018. These countries show a similar pattern in economic growth and implementing sustainable development goals, although they follow considerably different socio-economic regimes and fall into different development levels (i.e., developed and developing countries). Therefore, there should be a common underlying mechanism in macroeconomic factors that fosters economic development. In this regard, the motivation behind the study is to reveal a common, but hidden, behavior of the nonlinear causal relations of given macroeconomic factors in these countries to make recommendations about sustainable economic growth for policymakers. To this end, there are three main contributions of the paper. First, the research finds nonlinear dependencies in the related time series between 1960–2015, thereby nonlinear causality tests are performed to reach more reliable information than the linear causality. Second, the study formulates a feedback loop between public and private investment through economic growth, which indicates that public and private investment should stimulate each other directly or indirectly (i.e., through the GDP). Third, the direction of the causality does not affect sustainable economic growth as long as it exists directly or indirectly.

scholarly journals Visas, Jokes, and Contraband: Citizenship and Sovereignty at the Mexico–U.S. Border

2017 ◽  
Vol 59 (1) ◽  
pp. 154-182 ◽  
Author(s):  
Rihan Yeh
Keyword(s):  
Middle Class ◽  
International System ◽  
The United States ◽  
Border Crossing ◽  
State Recognition ◽  
Authentic Identity ◽  
Drug Traffickers ◽  
Popular Ballads ◽  
The U.S ◽  
Middle Class People

AbstractThis article explores citizenship and sovereignty at the Mexico–U.S. border through jokes told about and around checkpoint encounters—most centrally, those staged at the main port of entry connecting Tijuana, Mexico, and San Diego, California. In Tijuana, I argue, U.S. state recognition validates the proper, middle-class citizenship of Mexicans resident in Mexico. Attitudes towards the United States, however, remain ambivalent. I begin by exploring the checkpoint jokes of drug-traffickers as represented in severalnarcocorridos(popular ballads about drug-trafficking). Though this music is disapproved of by most people invested in U.S. state recognition, I show next how middle-class jokes build on the trope of the trickster-trafficker to parry state interpellation. The jokes work as performative arguments where people begin to articulate the tensions that constitute citizenship and sovereignty at the border. Finally, I examine the consular interview for the U.S. Border Crossing Card, a key site knitting together U.S. and Mexican regimes of citizenship. Folk theories of how the interview works anticipate the jokes' bald thematization of duplicity, explaining why middle-class people would turn to jokes that frame them as traffickers. Understood in the context of the BCC interview, middle-class checkpoint jokes reveal Mexican citizenship as embedded in an international system organized not by principles of authentic identity, but by ambivalence, contradiction, and undecidability.

scholarly journals The China-Australia Free Trade Agreement (ChAFTA): its implications for Australia-United States relations

2019 ◽  
Vol 15 (1) ◽  
pp. 41-53
Author(s):  
Johni Robert Verianto Korwa
Keyword(s):  
United States ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Strategic Alliance ◽  
International System ◽  
Trade Agreement ◽  
The United States ◽  
National Interests ◽  
Trade Relations ◽  
The Us

Australia is currently faced with a strategic and economic dilemma regarding its interactions with China and the United States (US). On the one hand, it should maintain and strengthen its strategic relations with the US as an ally in order to contain a rising China. On the other hand, Australia should ensure its economic growth by strengthening trade relations with China. This paper aims to examine the implications of the new China-Australia Free Trade Agreement (ChAFTA) for the ANZUS strategic alliance. Through Qualitative Approach, this article analyzes the issues with the use of realist and liberal perspectives in international relations. By assessing two previous events involving the triangular Australia-US-China relationship (the case of the Taiwan conflict, and the US development of a National Missile Defense system), this paper concludes that ChAFTA may tend to undermine the ANZUS alliance. Three reasons for this conclusion are identified: a fundamental shift in the way Australia perceives China; ChAFTA offers more benefits to Australia than the Australia-US Free Trade Agreement (AUSFTA); and finally Australia may consider ChAFTA as being more in its national interests in the international system than the ANZUS alliance.

scholarly journals START-3 Treaty prolongation: views of the U.S. political elites and experts

2020 ◽  
pp. 192-211
Author(s):  
M. Solyanova
Keyword(s):  
United States ◽  
Nuclear Weapons ◽  
The United States ◽  
Negotiation Process ◽  
Political Elite ◽  
Political Elites ◽  
Key Factors ◽  
National Interests ◽  
The U.S

The article focuses on the domestic U.S. discussion on prolongation of the 2010 Treaty on Measures for the Further Reduction and Limitation of Strategic Offensive Arms (START), and on this agreement’s compatibility with the U.S. national interests. The debate involves experts in nuclear weapons and non-proliferation, the American political elite, and the Congress. The author compares expert views on the feasibility of the U.S. administration’s idea to involve China in the negotiation process on a new agreement. The article considers the key factors that, according to the U.S. experts, may be in favor of extending the New START Treaty by the United States. The practice of applying legislative mechanisms by the Congress to exert pressure on the U.S. administration for extending of the START agreement is also analyzed.

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