Role of Obama in Promoting Globalization
Definition of globalization: * the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets.
The U.S. and globalization * The United States has been a beneficiary of globalization through integrating its economy into the world economy and lowering barriers to trade * The U.S. has been a firm proponent of furthering global trade and lowering barriers to trade around the world * The U.S. continues to pursue FTA’s like the FTTA (Free Trade Area of the Americas) to promote free trade and globalization * The U.S. is falling into a recession and domestic industries and markets are collapsing * Partly because of the integration of the U.S. economy in the world economy, the world is slipping into a global recession
Obama’s views on globalization * Obama believes globalization will continue to be beneficial to the U.S. if we pursue multilateral trade agreements judiciously * He believes that globalization will continue with or without the U.S. being a main participant
He believes we must “embrace” globalization * There are some who believe that we must try to turn back the clock on this new world; that the only chance to maintain our living standards is to build a fortress around America; to stop trading with other countries, shut down immigration, and rely on old industries. I disagree. Not only is it impossible to turn back the tide of globalization, but efforts to do so can make us worse off. Rather than fear the future, we must embrace it. I have no doubt that America can compete--and succeed--in the 21st century. And I know as well that more than anything else, success will depend not on our government, but on the dynamism, determination, and innovation of the American people.”
Obama position on Trade Issues
• Obama is of the opinion that global trade is unsustainable if it favors only the few and that America's global trade will be
The U.S. and globalization * The United States has been a beneficiary of globalization through integrating its economy into the world economy and lowering barriers to trade * The U.S. has been a firm proponent of furthering global trade and lowering barriers to trade around the world * The U.S. continues to pursue FTA’s like the FTTA (Free Trade Area of the Americas) to promote free trade and globalization * The U.S. is falling into a recession and domestic industries and markets are collapsing * Partly because of the integration of the U.S. economy in the world economy, the world is slipping into a global recession
Obama’s views on globalization * Obama believes globalization will continue to be beneficial to the U.S. if we pursue multilateral trade agreements judiciously * He believes that globalization will continue with or without the U.S. being a main participant
He believes we must “embrace” globalization * There are some who believe that we must try to turn back the clock on this new world; that the only chance to maintain our living standards is to build a fortress around America; to stop trading with other countries, shut down immigration, and rely on old industries. I disagree. Not only is it impossible to turn back the tide of globalization, but efforts to do so can make us worse off. Rather than fear the future, we must embrace it. I have no doubt that America can compete--and succeed--in the 21st century. And I know as well that more than anything else, success will depend not on our government, but on the dynamism, determination, and innovation of the American people.”
Obama position on Trade Issues
• Obama is of the opinion that global trade is unsustainable if it favors only the few and that America's global trade will be