| Publication |
2007.
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| Summary/Abstract |
What will be the legacy that President George W. Bush bequeaths to his successor in the fields of global trade and finance? In answering this question, the article will analyse the three most crucial international economic issues that the Bush administration has faced during its two terms in office. First, Bush's policy of trade liberalization will be considered. While the United States has negotiated a significant number of new bilateral and regional trade agreements over the past 7 years, global trade talks remain deadlocked. With increasing protectionist sentiment in evidence in Congress, Bush is unlikely to conclude the Doha Development Round by the time he leaves office in 2009. Second, global trade imbalances partly caused by the US current account deficit threaten the stability of international financial markets and global prosperity. The article concludes that the US has pursued a policy of 'begin neglect' towards the problem and needs to act more proactively to prevent a hard landing for the American and world economies. Finally, the economic relationship between the US and China is examined. The article argues that the United States needs to continue to engage China in the interests of global economic growth and regional stability in Southeast Asia while avoiding a trade conflict
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