The world is a veritable stage for superpowers. Major historical events are best viewed as the outcomes of games played by superpowers for their own economic interests. The objective of this book is to explore the primary cause of global historical events. A global economic disparity (GED) motivates superpowers to pursue their interests and results in the corresponding global historical event (GHE). This book explores the causal relationships between GEDs and GHEs that stand out in recent global history since the first Industrial Revolution, taking a geoeconomic approach which encompasses economics, international political affairs, history, and geography. The book confirms the causalities between GEDs and GHEs. It is a pioneering work that provides a unique but powerful policy implication: in order to alleviate international conflicts and tensions between superpowers, it is necessary to reduce GEDs. And since it is virtually impossible for a few superpowers to reduce the GEDs, the world economy needs a multipolar economic system for global stability through competition. The book was written shortly after the world economy was trapped within downward spirals caused by the US financial crisis and its contagion. As a collective representation of GEDs in various areas, the financial disparity is a central part of GEDs. The book rigorously examines the financial crisis (2008-2014) in the United States and the Fed's response, a program of quantitative easing (QE) implemented in three phases, while bearing in mind that the origin of the current crisis is not solely the financial sector or stock markets, but worldwide economic disequilibrium. This book also focuses on the details for the causal relationships prevailing in several major areas: human resources, raw materials, energy, environment, and poverty.

American trade policy is a crucial subject to not only the United States but also foreign countries. Free trade has been a long-standing U.S. policy position, playing the lead role in the international free trade framework and contributing to this framework through multilateral trade negotiations. As both trade deficits and fiscal deficits steadily increased during the 1980s in the U.S., free trade has not stood without its share of suffering. Chung investigates American trade policy from the perspectives of U.S. trade laws and international trade agreements by outlining the primary trade laws of the past; considering the trade laws of the present; and delving into various trade agreements, disputes, and reforms. Looking to the future, Chung offers a unique argument for the enforcement of trade remedy laws and the reform of the international trade framework. The Political Economy of International Trade is certain to be of interest to academics, policymakers, trade industry practitioners, and politicians in the United States as well as around the world.

American trade policy is a crucial subject to not only the United States but also foreign countries. Free trade has been a long-standing U.S. policy position, playing the lead role in the international free trade framework and contributing to this framework through multilateral trade negotiations. As both trade deficits and fiscal deficits steadily increased during the 1980s in the U.S., free trade has not stood without its share of suffering. Chung investigates American trade policy from the perspectives of U.S. trade laws and international trade agreements by outlining the primary trade laws of the past; considering the trade laws of the present; and delving into various trade agreements, disputes, and reforms. Looking to the future, Chung offers a unique argument for the enforcement of trade remedy laws and the reform of the international trade framework. The Political Economy of International Trade is certain to be of interest to academics, policymakers, trade industry practitioners, and politicians in the United States as well as around the world.

The world is a veritable stage for superpowers. Major historical events are best viewed as the outcomes of games played by superpowers for their own economic interests. The objective of this book is to explore the primary cause of global historical events. A global economic disparity (GED) motivates superpowers to pursue their interests and results in the corresponding global historical event (GHE). This book explores the causal relationships between GEDs and GHEs that stand out in recent global history since the first Industrial Revolution, taking a geoeconomic approach which encompasses economics, international political affairs, history, and geography. The book confirms the causalities between GEDs and GHEs. It is a pioneering work that provides a unique but powerful policy implication: in order to alleviate international conflicts and tensions between superpowers, it is necessary to reduce GEDs. And since it is virtually impossible for a few superpowers to reduce the GEDs, the world economy needs a multipolar economic system for global stability through competition. The book was written shortly after the world economy was trapped within downward spirals caused by the US financial crisis and its contagion. As a collective representation of GEDs in various areas, the financial disparity is a central part of GEDs. The book rigorously examines the financial crisis (2008-2014) in the United States and the Fed's response, a program of quantitative easing (QE) implemented in three phases, while bearing in mind that the origin of the current crisis is not solely the financial sector or stock markets, but worldwide economic disequilibrium. This book also focuses on the details for the causal relationships prevailing in several major areas: human resources, raw materials, energy, environment, and poverty.