Sunday, 11 November 2012

As goes Europe, so goes the world economy

Americans watching the last presidential debate, ostensibly on foreign affairs, might have thought they were watching a science-fiction movie, like "Armageddon" or "Deep Impact," where asteroids collided with the earth.
Poof! Europe gone. Poof! Canada and Mexico gone. Latin America, too. Poof! Africa gone. Poof! India, Japan and Asia gone. After the dust settled, all that was left was the United States and the Middle East. Oh, it took a while to discover, but China had survived, too – barely.
No mention of our long-standing trans-Atlantic relationship with Europe. Only one smug mention by Romney that we don't want to be like Greece. Is Europe's stability and prosperity important to us? Where does Russia fit?
The economic relationship between the United States and Europe is, as one observer has noted, "the deepest and broadest between any two continents in history." We share high wages, high labor and environmental standards and open access to markets. And the backbone of the economic relationship is foreign investment, not just trade.
We have daily people-to-people contacts with Canada and Mexico, family ties through migration and a shared North American environment. We share common political values with Canada and have a direct interest in a prosperous and democratic Mexico.

Read more here: http://www.sacbee.com/2012/10/29/4944756/as-goes-europe-so-goes-the-world.html#storylink=cpy
 The debt crisis in Europe, of course, threatens economies on both sides of the Atlantic – and worldwide. Yet no mention of the need to restore growth and confidence. But the trans-Atlantic relationship is not just about economics. We share an enduring set of common interests and democratic values, no small thing.
The African continent – with its 57 countries and 1 billion people who look to the United States as a democratic beacon, and where we get nearly a quarter of our energy supplies, plus at least 50 rare metals that we need for computers and electronic equipment – got no mention.
India, the world's largest democracy with more than a billion people, dominates the geography of the South Asia region. But it, too, got no mention.
China did get mentioned, but only as a "currency manipulator" (Romney) or site of outsourced U.S. jobs (Obama). The fact is the Chinese currency situation has improved markedly; this is not really much of an issue right now. And the United States, California particularly, is poised in coming years to benefit from economic exchange with China – if we can get past the usual China-bashing that is a staple of the campaign season.
Fortunately, Earth wasn't hit by gigantic asteroids, so Americans and their political leaders can rediscover and should re-engage with the larger world – if not in the remaining days of the campaign, then in the coming four years.

Read more here: http://www.sacbee.com/2012/10/29/4944756/as-goes-europe-so-goes-the-world.html#storylink=cpy


Read more here: http://www.sacbee.com/2012/10/29/4944756/as-goes-europe-so-goes-the-world.html#storylink=cpy


Read more here: http://www.sacbee.com/2012/10/29/4944756/as-goes-europe-so-goes-the-world.html#storylink=cpy


Read more here: http://www.sacbee.com/2012/10/29/4944756/as-goes-europe-so-goes-the-world.html#storylink=cpy

Read more here: http://www.sacbee.com/2012/10/29/4944756/as-goes-europe-so-goes-the-world.html#storylink=cpy
We have daily people-to-people contacts with Canada and Mexico, family ties through migration and a shared North American environment. We share common political values with Canada and have a direct interest in a prosperous and democratic Mexico.

Read more here: http://www.sacbee.com/2012/10/29/4944756/as-goes-europe-so-goes-the-world.html#storylink=cpy


Read more here: http://www.sacbee.com/2012/10/29/4944756/as-goes-europe-so-goes-the-world.html#storylink=cpy