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What are the key foreign economic policy issues facing the United States in the second half of this decade? How can the administration and Congress meet the economic challenges that lie ahead? This new book analyzes the dramatic importance of the world economy to both the domestic prosperity and overall foreign policy of the United States, describes the new global environment (e.g., the rise of China as a global economic superpower and the completion of European unification) in which US policy must operate, and proposes major US initiatives on a wide range of international economic issues, including correction of the huge current account deficit, new trade negotiations, and energy. Individual chapters by senior staff of the Institute on each of the key topics are included.

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CHOICE Review

The US confronts a number of important international economic challenges, threats, and opportunities. This book, written by prominent economists associated with the Institute for International Economics, takes as given the fact that these problems are serious and that sound economic policies must be developed to deal with them. This will not be easy, the authors argue, because of recent changes in both the domestic context of international economic policies (e.g., the outsourcing controversy) and in the nature of the international economic system itself (e.g., China's emergence as an economic power). Of particular note are chapters on the Chinese challenge (by Nicholas R. Lardy); the problem facing countries such as the US to sustain economic growth while experiencing sustained current account deficits (Michael Mussa); the outsourcing controversy (Catherine L. Mann); and US immigration policy (Gordon H. Hanson). The authors show a keen awareness of both the domestic and international political tensions and conflicts that complicate and constrain attempts to achieve the reforms they see as crucial. Some critics will disagree with the authors' pro-trade and pro-market biases, but the analysis falls squarely within the mainstream of contemporary economics. This is an excellent contribution to the literature. ^BSumming Up: Highly recommended. Lower-division undergraduate through professional collections. M. Veseth University of Puget Sound

Notas de autor provistas por Syndetics

C. Fred Bergsten, senior fellow and director emeritus, was the founding director of the Peterson Institute for International Economics (formerly the Institute for International Economics) from 1981 through 2012. He is serving his second term as a member of the President's Advisory Committee for Trade Policy and Negotiations and was co-chairman of the Private Sector Advisory Group to the United States-India Trade Policy Forum, comprising the trade ministers of those two countries, during 2007-14.