AMERICA'S ECONOMIC DEPENDENCE.

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  • Author(s): Rohatyn, Felix
  • Source:
    Foreign Affairs. 1988/1989, Vol. 68 Issue 1, p53-65. 13p.
  • Additional Information
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    • Abstract:
      This article presents the U.S. economic policy and questions whether or not the U.S. will be able to play the preeminent role in the 21st century. The basic national objectives in both the communist and the free worlds consist of sustained economic growth, greater competitiveness and higher standards of living. The global divisions that continue to exist, and that will become more and more serious, will be between haves and have-nots, rich and poor, competitive and inadequate. While Soviet and Chinese reforms have been so far mostly limited to economics, they will inevitably spread to the political sphere. The Soviets and the Chinese have embarked on reform because their economies were collapsing, their citizens wanted a higher standard of living and their military wanted up-to-date technology and educated armed forces. But the underlying cause was that their system, in addition to being philosophically unacceptable, is inefficient and noncompetitive in the modern world.