Question

In: Economics

Should US substantially limit its global involvement? As the leader of the world, do you think...

Should US substantially limit its global involvement? As the leader of the world, do you think US needs substantially revise its foreign policy in this century. Please consider the following issues:

Does the world need a leader and why?

Why the US has played the role in the past decades?

Does the US benefit from its position as the world leader?

If the US really limits its global involvement, what would be the consequences?

Solutions

Expert Solution

USA has been the largest economic power and one of the oldest democracy in the world that portrays freedom, independence and a land of numerous innovations. It is the basis that USA has played active political, economic and other strategic role in not only international trade, but also in resolving international issues. It has given economic profits, first mover advantages in different countries as well as huge influence in policy planning. If USA limits its global involvement, then there is huge scope of the leadership void and divisive forces in the form of North Korea, Iran, IS-IS and other such institutionalized problems will quickly spread. Even countries like China and its policy is not acceptable to many countries as that of the USA. So, the void due to the limited role of the USA will do more harm than the good and USA will also not be able to protect themselves. So, the USA should not limit the global involvement. So, the world needs a leader and the USA should take the role. Here, the USA can bring in more like-minded partner who will share the responsibilities at different global platform. It will maintain the US influence while consolidating the resources for the domestic issues.

Further, the USA gains its super economic & political power due to its grants, help and assistance offered to the different countries and it is the part of the foreign policy. It the past (before the spread of globalization), the world was bipolar and to stop the influence of the USSR (former), it was mandatory for the USA to attract the different economies and gain strength. So, USA played a role of the world leader in the past. Now, the foreign policy should be revised and trade terms should also be improved, but not at the cost that the countries go away from the influence of the USA. The USA should help the economy to grow, but create opportunities for the domestic workforce also so that a balance in the US labor market and the manufacturing sector is maintained.

Besides, the USA gets benefits as the world leader as the USA influence the trade policy of the different nations. The USA is one of the biggest importer of the goods manufactured in countries like China and India. It makes the USA to be able to get preferential trade terms so that a good trade relation is maintained. It comes due to the USA as a world leader.

If the USA limits its role, then it will have the following consequences.

1. There will be an increase in the international dispute and everyone will try to show control in international areas such as air and water.

2. Pervasive tendencies among the nations, will increase and more invasion takes place.

3. Global terrorism will be on the rise.

4. Effectiveness of the international organizations like IMF, WB and WTO will come down.

5. Global environmental problems will be on the rise.


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