The United State and East Asia: A New Paradigm?

1994 ◽  
Vol 9 (0) ◽  
pp. 21-41
Author(s):  
Kyongsoo Lho
Keyword(s):  
United States ◽  
East Asia ◽  
The United States ◽  
New Paradigm ◽  
Economic Relations ◽  
Long Run ◽  
The Us ◽  
Short Run ◽  
The Cold War ◽  
First Time

The end of the Cold War has precipitated a major rethinking of the United States' international commitments in both the scholarly and policymaking communities. For the first time in nearly half a century, the United States is fundamentally reconsidering both its military and economic relations with the outside world. However, the debate over how to restructure US foreign policy has generally focused on Europe. When analysts have referred to Asia, the emphasis has generally been on economic problems in the region. Similarly, the thrust of these works has tended to remain short-term, looking at the immediate future. This paper challenges these viewpoints. It argues that East Asia is as important as Europe to the United States, for security as well as economic reasons. The paper looks at the long-run as well as short-run trends in East Asia, and argues that the issues the US will face in the future will not arise solely from its traditional adversaries-a major problem will be managing conflicts within alliances.

The Impact of Monetary and Fiscal Policies on the Stock Market in the United States (U.S); Evidence from Linear ARDL Framework

2020 ◽  
Vol 11 (1) ◽  
pp. 132-132
Author(s):  
Aref Emamian
Keyword(s):  
United States ◽  
Stock Market ◽  
The United States ◽  
Real Effective Exchange Rate ◽  
Annual Data ◽  
Fiscal Policies ◽  
Long Run ◽  
The Us ◽  
Short Run ◽  
The Impact

This study examines the impact of monetary and fiscal policies on the stock market in the United States (US), were used. By employing the method of Autoregressive Distributed Lags (ARDL) developed by Pesaran et al. (2001). Annual data from the Federal Reserve, World Bank, and International Monetary Fund, from 1986 to 2017 pertaining to the American economy, the results show that both policies play a significant role in the stock market. We find a significant positive effect of real Gross Domestic Product and the interest rate on the US stock market in the long run and significant negative relationship effect of Consumer Price Index (CPI) and broad money on the US stock market both in the short run and long run. On the other hand, this study only could support the significant positive impact of tax revenue and significant negative impact of real effective exchange rate on the US stock market in the short run while in the long run are insignificant. Keywords: ARDL, monetary policy, fiscal policy, stock market, United States

scholarly journals Monetary-Fiscal policies and stock market performance: Evidence from linear ARDL framework

2021 ◽  
Vol 5 (4) ◽  
pp. 69-80
Author(s):  
Aref Emamian ◽  
Nur Syazwani Mazlan
Keyword(s):  
United States ◽  
Stock Market ◽  
Market Performance ◽  
The United States ◽  
Tax Revenue ◽  
Fiscal Policies ◽  
Long Run ◽  
Stock Market Performance ◽  
The Us ◽  
Short Run

Objective – To explore the impacts of monetary and fiscal policies, the appropriateness of both policies and how the stock market is affected by their adoption and implementation in the United States (US). Hence, this study aims to determine the short and long run relationships between monetary and fiscal policies and stock market performance as well as establish potential factors and policies contributing to the highs and lows. Methodology/Technique – We use autoregressive distribution lag (ARDL) developed by Pesaran et al. (2001) to achieve the objective. In this study, annual time series data from the Federal Reserve, World Bank, and International Monetary Fund, from 1986 to 2017 pertaining to the American economy, was used. Findings – The results show that both policies play a significant role in the stock market. We find a significant positive effect of real gross domestic product (RGDP) and the interest rate on the US stock market in the long run and significant negative relationship effect of the consumer price index (CPI) and broad money on the US stock market both in the short run and long run. On the other hand, this study only could support the significant positive impact of tax revenue and significant negative impact of real effective exchange rate on the US stock market in the short run while in the long run are insignificant. Novelty – As the US stock market heavily depends on the Tax Revenue in the short run, any changes in TR can impact on the US stock market considerably. Thus, shareholders can benefit from these results when they look at macroeconomic data in order to enhance their investment strategy. Type of Paper: Empirical. JEL Classification: E52; E62; G18 Keywords: ARDL; Monetary Policy; Fiscal Policy; The Stock Market in The United States. Reference to this paper should be made as follows: Emamian, A; Mazlan, N.S. 2021. Monetary-Fiscal policies and stock market performance: Evidence from linear ARDL framework, Journal of Business and Economics Review, 5(4), 69–80. https://doi.org/10.35609/jber.2021.5.4(7)

International interventions in non-democratic states between democratic change and achieving interests (Iraq as a case study after 2003)

2021 ◽  
Author(s):  
Omran Ali
Keyword(s):  
United States ◽  
Cold War ◽  
Middle East ◽  
United States Of America ◽  
The United States ◽  
Economic Relations ◽  
The Us ◽  
Democratic Change ◽  
The Cold War

This research seeks to critically analyze the international efforts, particularly the United States of America, in transforming authoritarian and non-democratic states into democratic ones, and clarify to what extent the US seeks to achieve real democratic change in non-democratic countries, especially Iraq, and whether their main goal is to achieve stability and their vital interests or democratic change and reform. It argues that although spreading democracy and human rights in the Middle East has become, especially after the end of the Cold War, one of the main goals of the US, but, in reality, the US is not ready to sacrifice its vital interests in the region at the expense of spreading democratic values, as well as reducing its strong security and economic relations with its non-democratic allies, or even applying the required pressure on them. Consequently, this increases doubts about the credibility and seriousness of the US in achieving its goal of spreading democracy in the Middle East in general, and Iraq in particular.

The Soviet Factor in the US-China Military-Technical Cooperation during the Cold War

2021 ◽  
Vol 13 (3) ◽  
pp. 12-47
Author(s):  
Yinan Li
Keyword(s):  
United States ◽  
Cold War ◽  
Armed Forces ◽  
Active Role ◽  
The United States ◽  
Technical Cooperation ◽  
Arms Sales ◽  
The Us ◽  
The Cold War ◽  
The Military

The development of the PRC’s armed forces included three phases when their modernization was carried out through an active introduction of foreign weapons and technologies. The first and the last of these phases (from 1949 to 1961, and from 1992 till present) received wide attention in both Chinese and Western academic literature, whereas the second one — from 1978 to 1989 —when the PRC actively purchased weapons and technologies from the Western countries remains somewhat understudied. This paper is intended to partially fill this gap. The author examines the logic of the military-technical cooperation between the PRC and the United States in the context of complex interactions within the United States — the USSR — China strategic triangle in the last years of the Cold War. The first section covers early contacts between the PRC and the United States in the security field — from the visit of R. Nixon to China till the inauguration of R. Reagan. The author shows that during this period Washington clearly subordinated the US-Chinese cooperation to the development of the US-Soviet relations out of fear to damage the fragile process of detente. The second section focuses on the evolution of the R. Reagan administration’s approaches regarding arms sales to China in the context of a new round of the Cold War. The Soviet factor significantly influenced the development of the US-Chinese military-technical cooperation during that period, which for both parties acquired not only practical, but, most importantly, political importance. It was their mutual desire to undermine strategic positions of the USSR that allowed these two countries to overcome successfully tensions over the US arms sales to Taiwan. However, this dependence of the US-China military-technical cooperation on the Soviet factor had its downside. As the third section shows, with the Soviet threat fading away, the main incentives for the military-technical cooperation between the PRC and the United States also disappeared. As a result, after the Tiananmen Square protests, this cooperation completely ceased. Thus, the author concludes that the US arms sales to China from the very beginning were conditioned by the dynamics of the Soviet-American relations and Beijing’s willingness to play an active role in the policy of containment. In that regard, the very fact of the US arms sales to China was more important than its practical effect, i.e. this cooperation was of political nature, rather than military one.

The Invisible Hand of Diplomacy

2021 ◽  
Vol 90 (3) ◽  
pp. 345-376
Author(s):  
Elizabeth O’Brien Ingleson
Keyword(s):  
United States ◽  
The United States ◽  
Invisible Hand ◽  
Manufacturing Companies ◽  
Political Transformations ◽  
History Of ◽  
The Cold War ◽  
First Time ◽  
Simple Narrative ◽  
The U.S

In December 1977, a tiny group of U.S. glove makers—most of whom were African American and Latina women—launched a petition before the U.S. International Trade Commission calling for protection from rising imports. Their target was China. Represented by the Work Glove Manufacturers Association, their petition called for quotas on a particular kind of glove entering the United States from China: cotton work gloves. This was a watershed moment. For the first time since the Communist Party came to power in 1949, U.S. workers singled out Chinese goods in pursuit of import relief. Because they were such a small group taking on a country as large as China, their supporters championed the cause as one of David versus Goliath. Yet the case has been forgotten, partly because the glove workers lost. Here I uncover their story, bringing the history of 1970s deindustrialization in the United States into conversation with U.S.-China rapprochement, one of the most significant political transformations of the Cold War. The case, and indeed the loss itself, reveals the tensions between the interests of U.S. workers, corporations, and diplomats. Yet the case does not provide a simple narrative of U.S. workers’ interests being suppressed by diplomats and policymakers nurturing globalized trade ties. Instead, it also underscored the conflicting interests within the U.S. labor movement at a time when manufacturing companies were moving their production jobs to East Asia.

United States Strategic Interests in Latin America: An Assessment

1997 ◽  
Vol 39 (1) ◽  
pp. 45-57 ◽  
Author(s):  
Albert R. Coll
Keyword(s):  
United States ◽  
Latin America ◽  
The United States ◽  
Second World War ◽  
Economic Prosperity ◽  
World War ◽  
Long Run ◽  
The Us ◽  
Areas Of Concern ◽  
Second World

As of 1997, the United States faces an unprecedented degree of security, stability, and economic prosperity in its relations with Latin America. Never before have US strategic interests in Latin America been as well-protected or have its prospects seemed, at least on the surface, so promising. Yet while the US strategic interests are in better shape — militarily, politically, and economically — this decade than at any time since the end of the Second World War, some problems remain. Over the long run, there is also the risk that old problems, which today seem to have ebbed away, will return. Thus, the positive tone of any contemporary assessment must be tempered with an awareness of remaining areas of concern as well as of possible future crises.

scholarly journals The Future of Turkey - United States Relations

Jurnal ICMES ◽  
2018 ◽  
Vol 2 (2) ◽  
pp. 179-196
Author(s):  
Firmanda Taufiq
Keyword(s):  
United States ◽  
The United States ◽  
Economic Interests ◽  
The Us ◽  
The Future ◽  
Foreign Policies ◽  
The Government ◽  
The Cold War ◽  
Role Of The Government

Throughout 2018, relations between Turkey and the United States seemed to deteriorate. The leaders of the two countries issued sharp diplomatic statements and the US even imposed economic sanctions on Turkey. This article aims to analyze how the future of relations between Turkey and the United States. Cooperation between the two has a long historical side after the Cold War. Relations between the two countries are based on various interests, both economic, political, military and security interests. The theory used in this study is the theory of national interest. The US has great interests in the Middle East and Turkey is the front-line ally in achieving those interests. However, there are many US foreign policies that ignore the Turkish concern and create tensions between the two countries. On the contrary, Turkey also has considerable economic interests, but the role of the government elite (in this case, President Erdogan) has a significant influence in the determination of Turkish foreign policy. The findings of this study, although it will go through complex challenges and processes, the US and Turkey will continue to maintain their relations.

scholarly journals Rethinking the Security Architecture of North East Asia

2010 ◽  
Vol 41 (2) ◽  
pp. 273
Author(s):  
Michael J Kelly ◽  
Sean Watts
Keyword(s):  
United States ◽  
East Asia ◽  
North Korea ◽  
The United States ◽  
United Nations Security Council ◽  
Collective Security ◽  
North East ◽  
The North ◽  
The Government ◽  
The Cold War

In the aftermath of the Cold War, many began to question the continuing efficacy, or at least call for reform, of collective security structures such as the North Atlantic Treaty Organization and the United Nations Security Council. Yet, North East Asia never enjoyed a formal, institutionalised collective security structure. As Russia and the United States recede and China emerges in North East Asia, this article questions whether now is the time to consider such an arrangement. Financially, Japan and South Korea are locked into a symbiotic relationship with China (as is the United States), while the government in Beijing continues to militarise and lay territorial and maritime claims to large areas of the region. Moreover, the regime in North Korea, with its new nuclear capabilities, remains unpredictable. Consequently, central components to the question of collective security in North East Asia are the equally vexing questions of what to do about North Korea and whether a new formalised security arrangement would include or exclude the People's Republic of China.

US grand strategy after the Cold War: Can realism explain it? Should realism guide it?

2018 ◽  
Vol 32 (1) ◽  
pp. 3-22 ◽  
Author(s):  
Stephen M Walt
Keyword(s):  
United States ◽  
Foreign Policy ◽  
Cold War ◽  
World Order ◽  
The United States ◽  
Grand Strategy ◽  
Structural Constraints ◽  
The Us ◽  
The Cold War ◽  
Policy Elites

This article uses realism to explain past US grand strategy and prescribe what it should be today. Throughout its history, the United States has generally acted as realism depicts. The end of the Cold War reduced the structural constraints that states normally face in anarchy, and a bipartisan coalition of foreign policy elites attempted to use this favorable position to expand the US-led ‘liberal world order’. Their efforts mostly failed, however, and the United States should now return to a more realistic strategy – offshore balancing – that served it well in the past. Washington should rely on local allies to uphold the balance of power in Europe and the Middle East and focus on leading a balancing coalition in Asia. Unfortunately, President Donald Trump lacks the knowledge, competence, and character to pursue this sensible course, and his cavalier approach to foreign policy is likely to damage America’s international position significantly.

3. The US rise to world power, 1776–1945

2012 ◽  
Author(s):  
Walter LaFeber
Keyword(s):  
United States ◽  
Civil War ◽  
Industrial Revolution ◽  
The United States ◽  
Thomas Jefferson ◽  
Territorial Expansion ◽  
War Of Independence ◽  
World Power ◽  
The Us ◽  
The Cold War

This chapter examines how the United States evolved as a world power during the period 1776–1945. It first considers how Americans set out after the War of Independence to establish a continental empire. Thomas Jefferson called this an ‘empire for liberty’, but by the early nineteenth century the United States had become part of an empire containing human slavery. Abraham Lincoln determined to stop the territorial expansion of this slavery and thus helped bring about the Civil War. The reunification of the country after the Civil War, and the industrial revolution which followed, turned the United States into the world’s leading economic power by the early twentieth century. The chapter also discusses Woodrow Wilson’s empire of ideology and concludes with an analysis of U.S. economic depression and the onset of the Cold War.

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