One of the most remarkable features of the world economy

 

下面为大家整理一篇优秀的essay代写范文 -- The creed of journalists，文章讲述现在，世界经济最显着的特征之一就是全球化的趋势。为什么人们甚至不用单击鼠标就可以走出大门，就可以享受在互联网图书馆阅读外国期刊的便利？为什么在中国几乎每个城镇，许多孩子都能愉快地吃麦当劳的进口食品，例如薯片和汉堡包？为什么全世界的人们都会兴奋不已，等待着在美国购买进口手机，例如，出生后就购买了新鲜的iPhone 5s或6？这些就是人们每天享受的所有好处。

 

Now one of the most striking features of world economy is the increasing trend of globalization. Why people can enjoy the convenience of reading foreign journals on the internet library without even stepping out of the door with mere clicking on the mouse? Why many kids can eat happily the imported food in McDonald’ such as the potato chips and hamburgers in almost every town in China? Why people all around the world can be excited and waiting to buy the imported cell phones in the United States, for example, the iPhone 5s or 6 fresh after they were born? These are all the benefits people are enjoying every day. In fact, this globalization of economy is one of the most important features seen in the world economy especially after the period of 1990s.As the world powerhouse, the economy of the United States is of course a strong engine with fast moving wheels forward, and benefit much from this economic trend. What the globalization has done to the American economy can be seen from the several aspects. This passage will focus on this topic and has probed into it with interesting insights as below so that the readers will get to know this complex topic in a better way.

On the basis of globalization, the United States has chosen the trade policy of exportation as the main strategy. For Clinton Administration, its one goal is to set up a more open and free international trade system and try to increase the trade volume (Vandana, 2013). And focusing on this, The America government makes enlarging its global market as first place of its foreign policy and later set up its first ‘State Export Strategy’, which is never seen in its history. Following this, the American government has ensuing actions, for example, the government changed its long enforced policies like multilateralism and bilateralism to a kind of open regionalism. Take the example of Asian Financial crisis, though America is affected by this big crisis and its export volume to Asia is reduced, but its export volume to Mexico and Canada is increasing at a larger percentage. This example well illustrates that this global open regionalism effectively strengthens its capability to resist global financial disturbances making use of regional differences, and this in turn help stabilizes employment and economic growth in the United States. The US government also changes its policy of regulating importation to one that encourages exportation. Last but not least, the US government also actively pushes the current multilateral, bilateral or international state to state trade agreements and reduces the duties overall. By enforcing this policy of strategic trade policy, the important element export has greatly promoted economic growth and pushes the economic structure to develop to a higher level featured by information and high technology. From the year 1992 to 1996, the United States export volume increases annually, and at the same time surpasses the growth rate of gross domestic product, thus the United States has kept on being the biggest exporter country on the international stage. Until the year of 1999, the industries related to the export sector has absorbed employees by more than one quarter of the whole workforce, among which the high-tech products focusing on information has occupied a relatively large percentage in the whole export and import volume. Till the year of 1998, the technology trade surplus in the United States has greatly surpasses that of the European Union and Japan (Jens, et al, 2014). This had unquestionably somehow shaped the contemporary America. It goes without saying that the benefits that it brings are great and excellent. The next benefit is to make use of the special advantage of dollars as well as the visible and invisible international capital turnover. The American economy has had a high dependency on import and foreign capital, and is the country with the most large trade deficit in the world and also a country with the most in-flowing capital. The fact goes like this: for developing countries, because they more often than not have the problem of serious money shortage, so the difference of import and export will be needed to make up for by incoming capital. So this is why most developing countries have encountered a trade deficit in its current account, and this trade deficit will be balanced by the trade surplus in capital items. But for the United States which is a highly developed country, it has a much similar international balance of payment structure with developing countries, and plus its favorable position cannot compared by other countries, America can long keep this international balance of payment. Now can move to the special influences caused by the huge amount of trade deficit to the American economy. This equals to say that America can use the same amount of money to purchase more and cheaper commodities. Due to its unique advantages in exchange rate, the United States can gain more benefits. One simple example is can be seen in the Asian Financial Crisis, the East Asian countries had devalued currency, so the United States can have much lower prices when importing goods from these regions. This can largely benefit America because it can make large amount of resources from these countries, has much lower cost of investment, which can greatly relieve the pressure of inflation, and prolongs its economic expansion circle. Besides, the huge amount of trade surplus can be made up for by net flowing-in capital. This is because the government of trade deficit country can use its accumulated foreign currency collection to purchase American national debt, in the meantime many private investors also make investment in America with their earned US dollars. These large amount of capital not only can cover the huge trade deficit, what is more important is this large amount of money also covers the problems lies in American commercial investment, at the same time becomes the big support of American newly born economy and the flushing stock market, and provides capital support for each enterprise’s trade, as well as their financial and investment expansion. The big deficit in the United States in the 1990s is not the result of a weaker competence in the world market, but rather the result of a stronger economy, the intense domestic demand leading to a much big surpass of import increase over export increase.

The following benefit is involving the global technical talents and immigrates, they gradually move to the United States either because of its better economy or because of its potential of creating large amount of jobs, at lease this is a good expectation since people can see news about American people’s worries of losing jobs too. In fact, the big flow of international talents into America is an important stimulus to the obvious development of American economy and technology (John H, 2012). To embrace this trend, the American government has enforced a tolerant policy in aspect of high technology human resources. Especially after the 1990s, most of the high-tech enterprises in the United States are eager to recruit such advanced talents. They can be from every country, the origin is less important than talents and capability in America. Some of the researchers and technical people are born not in America in Microsoft, and Chinese researchers in Hong Kong, Taiwan and Indians are very active during this period. In every field there are many high technological people moving into and make important contributions to the expansion of American economy. It can be said that the inspiring economic growth in the United States in last century is largely pushed by its advantageous position in high technology, and this advantageous position is largely led to by the intelligence security brought by many outstanding talents flowing into this free and open America. The expansion of economy, in turn lead to a large demand for labor force. The flowing in labor force in an extent makes up for the local labor shortage. This without doubt eases the contradiction of labor supply and demand in America, and also eases the pressure of inflation because of labor shortage and wage increase. There are other benefits, for example, this foreign labor force inevitably enriches the American native culture, and one reason why American culture is usually called ‘the melting stove’, and the atmosphere in America can be very tolerant and easily flourish. However, every culture should be protected, if the previous culture of a certain country is replaced by others one day, then the country will lose everything and have to be colonized in the end. Hence, it has a good dimension and bad one.

Another advantage brought about by globalization to American economy is to American enterprises. In the background of globalization, the managing mode of enterprises is horizontal and networked, the larger the network is, the higher the efficiency of enterprises and the cost will be also much lower. And globalization is a kind of networked environment for enterprises, cross national enterprises in particular the case, because the economic globalization can facilitate the enterprises to allocate its needed resources in the global range (Eric F&Meyfroidt, 2011). It will also facilitate to obtain various kinds of resources with the lowest cost of time and energy and to get the biggest benefit and advantage, these are all changed into a word competence in the market. Besides, for some new economy products, they have high set cost and low margin cost (Carl & Varian, 2013). And for some technologies, there must be big enough market volume to possibly make share of its high developing expenses. For example, the biological pharmacy industry usually cover a very high developing expenses, and its users are usually specific(the patients to use this kind of medicine), if these medicines are limited to its domestic patients, it can be very hard to recoup the capital outlay, so it is necessary to go global for this kind of enterprises. Apart from this, the essence of information products is networked, and has a tendency to expand to the overseas market. The world is bigger than people can imagine, the marketplaces in this modern world are certainly a big cake for every businessmen, they will definitely have the desire to expand to the overseas markets. And the existence of globalization is without doubt a promising solution to such an internal tendency.

The above mentioned aspects are several important advantages done to American economy by the trend of globalization, as everything can be a double-edge sword, the globalization is no exception. It can have negative effects on America’s relations with other countries, especially the developing countries. The World Trade Organization is a main trademark of economic globalization, and it has had functions in dealing with national relationships which cannot be ignored, because there can always be problems and differences in national relations (John, at el, 2013). Actually, the process of globalization is a process in which developed countries is the rule maker and the main beneficiary, and the developing countries can only to passively accept the rules and have no power to have a say, so the advantages coming from the trade division are better for the developed countries. The result is there are bigger gap between the rich countries and poor ones. Because the trend of globalization cannot be reversible, different countries will have more and closer contacts, this will promote world peace. However, the double standard taken by some countries like America brings challenges to the developing countries which are in a relatively weak position. For example, in recent years some Enterprises who seek to have better developments in the international market have encountered more lawsuits in regard of export. They encourage the free trade when their industries of the same line are enjoying an advantage in competition, and ask other countries to open doors in a larger extent; however, when it comes to the industries for which they have no advantage, they will resist these enterprises and choose the policy of trade protectionism or regionalism, which largely hurt the rule of fair play and damage the interests of enterprises that are in a weaker position in the international market. One typical example is the trade conflict between the United States and China. With the increase of trade volume and scale, China has an increasingly bigger trade surplus, this brings more pressure to the United States, and so it tries to put pressure on China in order to suppress the economic development of China (Ataman, et al, 2013). The textile conflict between China and the United States is well known for long. The US government tries to set some limit on textiles from China in order to protect its native textiles enterprises (Wayne M, 2011). Besides, it has long demanded the Chinese currency (RMB) to appreciate, and so Chinese exported products will have lower competence in the global market. But to China, the textile industry is a traditional support industry which involves the employment of many people. In face of protectionism of the US government, Chinese government has taken actions to reasonably protect native textile enterprises from too much pressure, and finally after seven rounds of dialogue, the textile conflict is settled with a much satisfying result. Another problem following the economic globalization is the issue of political security. This is because different countries have more contact with one another; the dependency between different countries is increasing too. Once one country has the problem of economic crisis, not only its neighboring countries, but all other countries involved in the economic circle cannot be unaffected by the crisis. And this seems to be unavoidable, although every country does not want to suffer from this crisis, but it has to do so, because it can not control it at all, what these countries can really do is to be forced to suffer from it. For example the Asian Crisis which occurred in 1997 is a typical case and it can never be allowed to happen again, or the result is imaginable indeed, because economy is the backbone of a country’s survival, if its economy is damaged and threatened, its political security can not be guaranteed. In addition, security is the most crucial thing that everybody concerns, without it, nothing can really be done well.

In conclusion, taking all these factors into account, what the globalization done to the American economy is double sided. On the one hand, it have brought various benefits to America, it help to bring about the policy of strategic trade focusing on export; it lets the US to gain much from international currency and global capital; It helps attract much high-tech talents and immigration from other countries, and it facilitates multinational enterprises in the US to promote their core competence in global market. Bout on the other hand, globalization has its negative effects on American economy in the long run. It causes trade conflict between US economy and other economies, and some policies adopted by the US can be harmful to other weaker economies and unpopular among the international community. This can in turn affects the world economic stability and world peace.

 

 

 

 

 

 

 

 

 

 

 

Work Cited

Baylis, John, Steve Smith, and Patricia Owens, eds. The globalization of world politics: An introduction to international relations. Oxford University Press, 2013.

Aksoy, M. Ataman, and Francis Ng. The evolution of agricultural trade flows. No. 2013/2. Discussion Paper, Turkish Economic Association, 2013.

Bhatia, Vandana. "Nonproliferation Policy of the Clinton Administration toward India: Shifting of Nuclear Goalposts?." Comparative Strategy 32.3 (2013): 261-282.

Dunning, John H. International Production and the Multinational Enterprise (RLE International Business). Vol. 12. Routledge, 2012.

Horbach, Jens, et al. "Do lead markets for clean coal technology follow market demand? A case study for China, Germany, Japan and the US."Environmental Innovation and Societal Transitions 10 (2014): 42-58.

Lambin, Eric F., and Patrick Meyfroidt. "Global land use change, economic globalization, and the looming land scarcity." Proceedings of the National Academy of Sciences 108.9 (2011): 3465-3472.

Morrison, Wayne M. "China-US trade issues." (2011).

Shapiro, Carl, and Hal R. Varian. Information rules: a strategic guide to the network economy. Harvard Business Press, 2013.

 

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