During the six months prior to the World Trade Center attack, the United States walked away from a treaty to control the world traffic in small arms, the Kyoto accords, a treaty to combat bioterrorism, and many other international agreements. After 9/11 there was a flurry of coalition building, but Europe and Asia quickly came to see the conflict in Afghanistan as an American war with Tony Blair leading cheers from the sidelines. Recent American calls to action in Iraq have only reinforced international perception that the U.S. plans to remain a solitary actor on the world stage. Despite our stated good intentions -- the causes of justice and democracy -- we have become the world's largest rogue nation. The Bush administration did not invent the American tradition of unilateralism, but, Clyde Prestowitz argues, they have taken it to unprecedented heights. Rogue Nation explores the historical roots of the unilateral impulse and shows how it helps shape American foreign policy in every important area: trade and economic policy, arms control, energy, environment, drug trafficking, agriculture. Even now, when the need for multilateral action -- and the danger of going it alone -- has never been greater, we continue to act contrary to international law, custom, and our own best interests.
By the beginning of this century it was already commonplace to speak of the U.S. as a "hyperpower," to talk of its military, political, and economic clout as unprecedented in world history, and to assume that American dominance would continue at least throughout our lifetimes. It is conventional wisdom that America will have no serious rivals for at least a generation. But the American position is far more fragile and ephemeral than much of the world believes. Clyde Prestowitz shows the powerful yet barely visible trends that are threatening to end the six-hundred-year run of Western domination of the world. The trends include America's increasingly unsustainable trade deficits; the equally unsustainable (and dangerous) buildup of massive dollar reserves in places like Japan and China; the end of America's position as the world's premier center for invention and technological innovation; the sudden entrance of 2.5 billion people in India and China into the world's skilled job market; the role of the World Wide Web in permitting many formerly localized jobs to be done anywhere in the world; and the demographic meltdown of Europe, Japan, Russia, and, in later decades, even China.Three Billion New Capitalists is a clear-eyed and profoundly unsettling look at America's and the world's economic future, from an author with a history of predicting the important trends long before they become apparent to others.
CONSIDER THIS SHOCKING FACT: while China’s number one export to the United States is $46 billion of computer equipment, the number one export from the U.S. to China is waste—$7.6 billion of waste paper and scrap metal. Bestselling author Clyde Prestowitz reveals the astonishing extent of the erosion of the fundamental pillars of American economic might—beginning well before the 2008 financial crisis—and the great challenge we face for the future in competing with the economic juggernaut of China and the other fast-rising economies. As the arresting facts he introduces show, the U.S. is rapidly losing the basis of its wealth and power, as well as its freedom of action and independence. If we do not make dramatic changes quickly, we will confront a painful permanent slide in our standard of living; the dollar will no longer be the world’s currency; our military strength will be whittled away; and we will be increasingly subject to the will of China, Russia, Saudi Arabia, and various malcontents. But it doesn’t have to be that way. As Prestowitz shows in a masterful account of how we’ve come to this fateful juncture, we have inflicted our economic decline on ourselves—we abandoned the extraordinary approach to growth that drove the country’s remarkable rise to superpower status from the early days of the republic up through World War II. For most of our history, we supported our home industries, protected our market against unfair trade, made the world’s finest products—leading the way in technological innovation—and we were strong savers. But in the post-WWII era, we reversed course as our leadership embraced a set of simplistically attractive but disastrously false ideas—that consumption rather than production should drive our economy; that free trade is always a win-win; that all globalization is good; that the market is always right and government regulation or intervention in the economy always causes more harm than good; and that it didn’t matter that our factories were fleeing overseas because we were moving to the "higher ground" of services. In a devastating account, Prestowitz shows just how flawed this orthodoxy is and how it has gutted the American economy. The 2008 financial crisis was only its most blatant and recent consequence. It is time to abandon these false doctrines and to get back to the American way of growth that brought us to world leadership; Prestowitz presents a deeply researched and powerful set of highly practical steps that we can begin implementing immediately to reverse course and restore our economic leadership and excellence. The Betrayal of American Prosperity is vital reading for all Americans concerned about the future of the economy and of our power in the coming era.
In Japan Restored, New York Times bestselling author Clyde Prestowitz envisions post-bubble Japan in the year 2050, when the country's economic prosperity will have made it a world leader in every area. In 1979, the book Japan as Number One: Lessons for America by Harvard University professor Ezra Vogel caused a sensation in the United States by pointing out that Japan was surpassing America as world economic leader; to this day, it remains the all-time bestselling non-fiction book by a Western author in Japan. The book was timely: Japan's subsequent "bubble era" of the 1980s saw the country booming. But since the economic bubble burst at the start of the 1990s, Japan has been in decline. Japan Restored takes up where Vogel left off. Written as a vision of Japan in the year 2050, Prestowitz looks back to the mid-2010s as such a low point for Japan that a special reform commission was set up that helped the country regain its former position as a leader in technology, in business, and geopolitically. Looking at education, innovation, the role of women, corporate organization, energy, infrastructure, domestic government, and international alliances, Prestowitz draws up a fascinating and controversial blueprint for the future success of Japan. In wake of the 2021 Olympics in Tokyo and the economic chaos caused by the Covid-19 pandemic, Japan Restored is as timely as the 1979 book that inspired it.
During the six months prior to the World Trade Center attack, the United States walked away from a treaty to control the world traffic in small arms, the Kyoto accords, a treaty to combat bioterrorism, and many other international agreements. After 9/11 there was a flurry of coalition building, but Europe and Asia quickly came to see the conflict in Afghanistan as an American war with Tony Blair leading cheers from the sidelines. Recent American calls to action in Iraq have only reinforced international perception that the U.S. plans to remain a solitary actor on the world stage. Despite our stated good intentions -- the causes of justice and democracy -- we have become the world's largest rogue nation. The Bush administration did not invent the American tradition of unilateralism, but, Clyde Prestowitz argues, they have taken it to unprecedented heights. Rogue Nation explores the historical roots of the unilateral impulse and shows how it helps shape American foreign policy in every important area: trade and economic policy, arms control, energy, environment, drug trafficking, agriculture. Even now, when the need for multilateral action -- and the danger of going it alone -- has never been greater, we continue to act contrary to international law, custom, and our own best interests.
By the beginning of this century it was already commonplace to speak of the U.S. as a "hyperpower," to talk of its military, political, and economic clout as unprecedented in world history, and to assume that American dominance would continue at least throughout our lifetimes. It is conventional wisdom that America will have no serious rivals for at least a generation. But the American position is far more fragile and ephemeral than much of the world believes. Clyde Prestowitz shows the powerful yet barely visible trends that are threatening to end the six-hundred-year run of Western domination of the world. The trends include America's increasingly unsustainable trade deficits; the equally unsustainable (and dangerous) buildup of massive dollar reserves in places like Japan and China; the end of America's position as the world's premier center for invention and technological innovation; the sudden entrance of 2.5 billion people in India and China into the world's skilled job market; the role of the World Wide Web in permitting many formerly localized jobs to be done anywhere in the world; and the demographic meltdown of Europe, Japan, Russia, and, in later decades, even China.Three Billion New Capitalists is a clear-eyed and profoundly unsettling look at America's and the world's economic future, from an author with a history of predicting the important trends long before they become apparent to others.
CONSIDER THIS SHOCKING FACT: while China’s number one export to the United States is $46 billion of computer equipment, the number one export from the U.S. to China is waste—$7.6 billion of waste paper and scrap metal. Bestselling author Clyde Prestowitz reveals the astonishing extent of the erosion of the fundamental pillars of American economic might—beginning well before the 2008 financial crisis—and the great challenge we face for the future in competing with the economic juggernaut of China and the other fast-rising economies. As the arresting facts he introduces show, the U.S. is rapidly losing the basis of its wealth and power, as well as its freedom of action and independence. If we do not make dramatic changes quickly, we will confront a painful permanent slide in our standard of living; the dollar will no longer be the world’s currency; our military strength will be whittled away; and we will be increasingly subject to the will of China, Russia, Saudi Arabia, and various malcontents. But it doesn’t have to be that way. As Prestowitz shows in a masterful account of how we’ve come to this fateful juncture, we have inflicted our economic decline on ourselves—we abandoned the extraordinary approach to growth that drove the country’s remarkable rise to superpower status from the early days of the republic up through World War II. For most of our history, we supported our home industries, protected our market against unfair trade, made the world’s finest products—leading the way in technological innovation—and we were strong savers. But in the post-WWII era, we reversed course as our leadership embraced a set of simplistically attractive but disastrously false ideas—that consumption rather than production should drive our economy; that free trade is always a win-win; that all globalization is good; that the market is always right and government regulation or intervention in the economy always causes more harm than good; and that it didn’t matter that our factories were fleeing overseas because we were moving to the "higher ground" of services. In a devastating account, Prestowitz shows just how flawed this orthodoxy is and how it has gutted the American economy. The 2008 financial crisis was only its most blatant and recent consequence. It is time to abandon these false doctrines and to get back to the American way of growth that brought us to world leadership; Prestowitz presents a deeply researched and powerful set of highly practical steps that we can begin implementing immediately to reverse course and restore our economic leadership and excellence. The Betrayal of American Prosperity is vital reading for all Americans concerned about the future of the economy and of our power in the coming era.
An authority on Asia and globalization identifies the challenges China's growing power poses and how it must be confronted When China joined the World Trade Organization in 2001, most experts expected the WTO rules and procedures to liberalize China and make it "a responsible stakeholder in the liberal world order." But the experts made the wrong bet. China today is liberalizing neither economically nor politically but, if anything, becoming more authoritarian and mercantilist. In this book, notably free of partisan posturing and inflammatory rhetoric, renowned globalization and Asia expert Clyde Prestowitz describes the key challenges posed by China and the strategies America and the Free World must adopt to meet them. He argues that these must be more sophisticated and more comprehensive than a narrowly targeted trade war. Rather, he urges strategies that the United States and its allies can use unilaterally without contravening international or domestic law.
Examines negotiation of the North American Free Trade Agreement. Analyses issues involved and provides policy recommendations through study of the potential impact and critical factors concerning trade, investment, labour, the environment, and intellectual property. Also covers the impact upon and adjustments required in major industrial sectors - energy, steel, automobiles, textiles and apparel, agriculture, and the financial system.
Industrial policy is making a comeback in the United States. It is more urgent than ever to understand how and whether industrial policy has worked to strengthen the US economy. This study analyzes and scores 18 US industrial policy episodes implemented between 1970 and 2020, in an effort to assess what went right and what went wrong—and how the current initiatives might fare. The Peterson Institute for International Economics gratefully acknowledges the support of the Koch Foundation for this project.
This will help us customize your experience to showcase the most relevant content to your age group
Please select from below
Login
Not registered?
Sign up
Already registered?
Success – Your message will goes here
We'd love to hear from you!
Thank you for visiting our website. Would you like to provide feedback on how we could improve your experience?
This site does not use any third party cookies with one exception — it uses cookies from Google to deliver its services and to analyze traffic.Learn More.