Economic Competitiveness in the Post Cold War Environment

The recent political changes that have taken place in the Soviet Union And Eastern Europe have apparently ended the Cold War between the East and West. With these changes, it appears that the importance of military power will diminish while economic power will become more significant. This paper will examine and discuss Americas economic competitiveness in the post cold war environment. The introduction provides relevancy of the topic and a brief historical background of Americas economic changes that have taken place. Specifically discussed are Americas economic competitive position along with its challengers. The challengers include Japan, the East Asian countries of Singapore, South Korea, Taiwan, and Hong Kong, referred to as the Asian Tigers , the European community nations, and other rising economic powers. Economic competitiveness is reviewed primarily from a macro economic point of view with some micro economic issues included. The net assessment of the U.S. position relative to its challengers will be reviewed and conclusions provided. Recommendations for changes in U.S. economic strategy to become more competitive will be provided.