Your research paper for the “economic policy brief” considers the historical and policy contexts for a specific country. You consider the economic development history and important economic and politi
In tr o duct ion: A C ha ngin g W orld Ec on om y The relationship of the United States to the world economy is shaped by its size, its wealth, and its role as a military super power. It is endowed with a wide range of resources, including abundant and fertile farmland, a relatively well educated population, and a disproportionate share of the world’s top research universities, Nobel Prize winners, and venture capital. It is the third most populous country after China and India, and has either the largest economy in the world, or the second largest after China, depending on how it is measured.Throughout most of the post-World War II era, the United States used its size, wealth, and military power to foster a set of international economic relations that encouraged a multilateral approach to international trade and finance and economic support for low- and middle-income countries. It provided technical and military assistance and engaged in direct military intervention when it was deemed necessary. With the collapse of the Berlin Wall in 1989 and the dissolution of the Soviet Union in 1991, the bipolar world of two superpowers and two economic systems suddenly disappeared. Simultaneously, the global economic landscape was undergoing profound changes from the successes of middle-income emerging markets and the shift toward more open trade policies around the world. The transition to capitalism of formerly socialist economies; the worldwide preference for more open trade relations; and the economic success of countries from Botswana in Africa, to Chile in Latin America, to China in Asia are reshaping the world economy and the role of the United States.Not for Di str ib u tio n
