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Essay / Research Paper Abstract
A 10 page paper discussing how changes in the global economy affect the US. Though the transition is difficult and painful at times, it is likely that current difficulties of the US in global markets point to integration of the US into those markets. Our comparative advantage does not lie in low-skilled manufacturing jobs; it obviously does not lie in knowledge work in terms of programming. As the global economy continues to expand and evolve, we are likely to see in the future that much of our comparative advantage is linked to Western Europe and involves financial services for the rest of the world. Bibliography lists 13 sources.
Page Count:
10 pages (~225 words per page)
File: CC6_KSeconUSglobal.rtf
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Unformatted sample text from the term paper:
During his presidential campaign years ago, Ross Perot warned that the "great sucking sound" we would hear in the future would be the sound of jobs leaving the
US for Mexico. Perots prediction proved to be correct of course, as maquiladora companies sprung up and flourished on the Mexican side of the border.
Businesses in developed nations are under more pressure than ever before to operate in the most efficient manner possible. For manufacturing organizations, that includes reducing costs
of manufacturing to the greatest degree practical. For those seeking to sell their manufactured items in new markets, finding a developing nation in which disposable income is rising and
where there are great numbers of people brings the promise of greater profits and a much broader customer base for sustainability. A US-based business seeking to do either faces
a greatly different world than in the past. The still-emerging global economy directly and materially affects the US economy. Theory and Reality
One author states, "Today, multilateral institutions and governments of industrial countries seem to agree on the need to reorient macroeconomic and structural policies in order to achieve a more balanced
growth of the global economy" (Levy 130). Levy (2005) reviews several theories of international trade, including "David Ricardos law of comparative advantage" (Levy 130), which seems not to hold
so much power of prediction in todays global economy. "Capital and technology are today mobile across borders and comparative advantage is almost impossible to spot in advance" (Levy 130),
but "comparative advantage can be modified over time by the actions of corporations, consumers and governments" (Levy 130). Levy (2005) recalls the theory
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