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Article: Dollar diplomacy in Asia. (US appeasement of China to achieve trade expansion)
- Article from:
- The New Leader
- Article date:
- June 1, 1998
- Author:
CopyrightCOPYRIGHT 1998 American Labor Conference on International Affairs. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A series of spectacular events--the Asian financial crisis, the Indonesian riots that led to the ouster of dictator Suharto, and the competitive nuclear tests by India and Pakistan--have led many in the U.S. and overseas to question whether America's Asia policy is succeeding. It is. Given its goals, which Congress has permitted the Clinton Administration to define, it has been a success.
Today our grand strategy in Asia can be described as corporate mercantilism. Its underlying premise is that the short-term economic interests of Wall Street and footloose U.S. multinational corporations are identical to the long-term interests of the American people, and ...