Economic Renewal: A Grand Strategy for the United States

The nations continuing deficits and increasing debt will lead to its declining economic strength if not checked. Economic power is the foundation for the other elements of national power so economic problems degrade military power, erode Americas international image, and potentially may lead to declining faith in democratization efforts abroad as developing nations find free market capitalism less attractive. The U.S. should adopt a grand strategy of economic renewal to maintain its economic power. By taking steps to reduce its debt and leading an international effort to replace the dollar as the global currency, the United States can focus on rebuilding its economic power and maintaining its role as a global leader. Supporting military, diplomatic, and informational strategies will ensure the world sees these changes as the actions of a global power leading visionary change instead of a declining power trying to hold onto a fading empire. Changes led by the U.S. are essential for this country to maintain its power as well as to shine as a beacon of free market and democratic principles around the world.