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In the late 20th century, American leaders increasingly focused on global issues as trade deficits grew and international trade barriers were lowered by both Republican and Democratic administrations. The rise of regional trade blocs, such as NAFTA, and the influence of the World Trade Organization highlighted concerns about job displacement and economic competition. Additionally, pressing issues like nuclear proliferation, ozone depletion, and global warming emerged, necessitating a balance between economic growth and environmental protection.
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Into a New Century An Interdependent World
The New Global Economy • In the latter part of the 1900s, American leaders became more concerned with many global issues. • Trade deficits-Americans purchased more from foreign nations than American industry and agriculture sold abroad. • From World War II to the present, Republican and Democratic administrations have both tried to lower barriers to international trade. • Opponents warned that the global economy might cost the United States industrial jobs.
The New Global Economy Regional Blocs • With NAFTA in operation, workers shifted to more skilled jobs or to the service industry. • One concern of many Americans was that industrial jobs would go to Mexico, where labor costs were lower. • NAFTA faced competing regional trade blocs in Europe and Asia. • APEC represented the fastest-growing region in the world and controlled 43 percent of global trade in 1999.
The New Global Economy The World Trade Organization • World Trade Organization, was central to the effort to promote a global economy. • The WTO administered international trade agreements, helped settle trade disputes. • The United States had no veto power in the WTO and poorer nations would outvote it.
Issues of Global Concern Nuclear Proliferation • During the cold war, only a few nations had possessed nuclear weapons; they tried to restrict the spread of nuclear technology to other countries. • Congress passed legislation that cut aid and imposed sanctions on nations seeking to acquire nuclear weapons.
Issues of Global Concern Concern About Ozone • Chlorofluorocarbons had the potential to deplete the earth’s atmosphere. • Ozone is a gas in the atmosphere that protects life on Earth from the cancer causing ultraviolet rays of the sun. • Many environmental activists began to push for a ban on CFC production.
Issues of Global Concern Global Warming • Global warming- an increase in average world temperature over time. • A rise in temperature could eventually lead to more droughts. • Thirty-nine nations signed the Kyoto Protocol promising to reduce emissions, but very few put it into effect. • Americans struggled to balance economic progress with environmental concerns.
