| ID | 126581 |
| Title Proper | American economic power hasn't declined |
| Other Title Information | it globalized summoning the data and taking globalization seriously |
| Language | ENG |
| Author | Starrs, Sean |
| Publication | 2013. |
| Summary / Abstract (Note) | This paper argues that a fundamental failing in the debate on the decline of American economic power is not taking globalization seriously. With the rise of transnational corporations (TNCs), transnational modular production networks, and the globalization of corporate ownership, we can no longer give the same relevance to national accounts such as balance of trade and GDP in the twenty-first century as we did in the mid-twentieth. Rather, we must summon data on the TNCs themselves to encompass their transnational operations. This will reveal, for example, that despite the declining global share of United States GDP from 40% in 1960 to below a quarter from 2008 onward, American corporations continue to dominate sector after sector. In fact, in certain advanced sectors such as aerospace and software-even in financial services-American dominance has increased since 2008. There are no serious contenders, including China. By looking at the wrong data, many have failed to see that American economic power has not declined-it has globalized. |
| `In' analytical Note | International Studies Quarterly Vol.57, No.4; December 2013: p.817-830 |
| Journal Source | International Studies Quarterly Vol.57, No.4; December 2013: p.817-830 |
| Key Words | United States - US ; American Economics ; US - Financial Services ; China ; Foreign Policy ; Economic Policy - US ; Transnational Corporations - TNC ; American Economic Power ; Great Power ; World Power ; Transnational Operations - TNO ; Economics ; Globalization ; Economic Order |