Please update your browser

You're using a version of Internet Explorer that isn't supported by Questia.
To get a better experience, go to one of these sites and get the latest
version of your preferred browser:

World Looks to New US Strength to Turn around Global Economy Domestic Popularity and Deficit-Cutting Plan Aid Clinton Policy Team

By Amy Kaslow, writer of The Christian Science Monitor | The Christian Science Monitor, March 1, 1993 | Go to article overview

World Looks to New US Strength to Turn around Global Economy Domestic Popularity and Deficit-Cutting Plan Aid Clinton Policy Team


Amy Kaslow, writer of The Christian Science Monitor, The Christian Science Monitor


WITH a renewed sense of direction for United States economic policy, Treasury Secretary Lloyd Bentsen and Federal Reserve Board chairman Alan Greenspan stepped confidently into this past weekend's London meeting of the Group of Seven (G-7) leading industrialized nations, where finance ministers and central bank governors from the US, Britain, Canada, France, Germany, Italy, and Japan met to discuss policy.

Armed with President Clinton's economic plan, as well as a strident trade position and the makings of a new US industrial policy, Mr. Bentsen and Mr. Greenspan found that the tables have turned from the past decade of G-7 meetings when the US economic position was relatively weak and its policies underwent constant attack.

Compared with its global partners - all steeped in recession and political turmoil - the US is rebounding, with private economists projecting over 3 percent growth in national output this year. (US rebound, Page 3.)

Washington's hand is even stronger because Mr. Clinton has proposed a domestic agenda of higher taxes and fiscal restraint, actions long called for by G-7 policymakers, who have viewed Washington's runaway government expenditures and constant borrowing as the major contributor to high interest rates and a drag on the world economy. Clinton also enjoys the strongest domestic support of any G-7 leader.

The US president has heightened European and Asian concerns about US protectionism through moves against unfair trade practices in steel and a threatened limit on European and Asian auto imports. US trade partners are also concerned about Clinton's protests against European industrial subsidies, and his call for greater US government assistance in developing key technologies that will help US industry compete worldwide.

Last week, Mr. Bentsen's self-described "casual comment" about the burgeoning Japanese trade surplus with the US, and the need for a higher yen and a lower dollar, caused the yen to rise precipitously. This had a stinging effect on Japanese officials, who view such talk as interventionist.

"We now know that Bentsen's basic philosophical premise is that the way to get at the trade deficit is with the weaker dollar," says Jay Collins, president of the G-7 Council, a private policy group of former finance and monetary officials. Clinton address

On the eve of the London meeting, Clinton delivered his first major address on the international economy.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

World Looks to New US Strength to Turn around Global Economy Domestic Popularity and Deficit-Cutting Plan Aid Clinton Policy Team
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.