How has the position of the United States in the international economy shifted since World War II? What is the current financial trend of the United States? How do you think this trend may affect the entire world political economy?
What will be an ideal response?
The ideal answer should include:
1. Explain the shift in the position of the United States in the global economy since 1945. For example, students might discuss how the U.S. financial position peaked right after the war, how it eroded by the 1980s, and how the American trade deficit has been increasing consistently since the late 1990s.
2. Discuss the current economic trend in the United States. For example, students might write about the massive amount of national debt the United States has today, and how the United States has become the world's leading debtor state.
3. Analyze the possible impact of this trend on the world political economy. For example, in a more decentralized, more privatized world economy with an uncertain U.S. role, collective goods problems would be harder to solve and free trade harder to achieve.
4. Offer a concise summary and effective conclusion.
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