In this article, Adam Posen, the President of the Peterson Institute for International Economics, is an interview guest for Kai Ryssdal. Posen published an article describing how the global economy would be much more susceptible to conflict without US economic leadership.
The motivation Posen received to write this article points solely to the Trump administration. With the Trump administration wanting to withdrawal from the Trans-Pacific Partnership, publicly criticizing the World Trade Organization, and renegotiating NAFTA, it become clear to Posen that this is the direction which the world is heading.
Economies in Asia and Europe are much more greedy than the US. For years, the US has been towards the top in size of economies, but has not been the bully when it comes to enforcing how they wish to due things. Rather, they have done exceptionally well in getting everyone to follow the rules as they have done so for so long, resulting in a much richer world over the last 50-60 years. Without the US, the world could face some sort of massive economic downfall.
https://www.marketplace.org/2018/02/26/world/what-world-economy-might-look-without-us
1 comment:
I think that the last statement could be true for any of the well developed countries in the world. Every nation adds a different dynamic to the world economy. I feel like the biggest thing (with regards to the world economy) is the ability to trade. International trade allows for countries to work together to benefit themselves. Without trade, the world economy would not succeed.
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