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Politics : Foreign Policy Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Chas. who wrote (5780)	8/16/2003 2:00:22 PM
From: Hawkmoon	Read Replies (2) \| Respond to of 15987

My point is and we are already working on it, "is that we, the USA, control it thru economic leverage." But we would NOT control it were it not for the fact that the US remains the most transparent, progressive, and flexible economy in the free world. The reason the US command 33% of the global economy is because the rest of the world remains unfit and untrustworthy for the global investor. It's why the Dollar, and not the Euro or Yen, is the global reserve currency. I don't suggest an alternative to "Globalization", I think it is a wonderful concept and I believe we are on a course of becoming the Dominant partner in it and that is the way it should be. Sorry.. sure sounded like you were complaining to me.. My apologies. And yes, it's a wonderful concept, since it democratizes the flow of global capital to those nations where property rights and legal structures are more established. It provides a global "check" on the power of dictators, despots, oligarchies, and kleptocracies and denies them the capital they crave to steal from others. On the downside, many innocents get caught in the middle as global investors throw out the baby with the bath water with regard to capital flight. What, I would opine, should be more worrisome for the average American is the outflow of capital from the US as Bush and his "neocons" strive to restore a semblance of global order that permits capital to remigrate to the peripheral economies. That will likely mean a weaker dollar and growing trade deficits as more and more goods are produced overseas in cheaper labor markets. Of course, that cheaper dollar should assist in making those goods more expensive here, and making hi-tech US products and services more available to these growing economies... Theoretically speaking, that is... ;0) Hawk