The End of Influence : What Happens When Other Countries Have the Money

Introduction : when other countries have the money -- The neoliberals-dream ends -- The neoliberals-dream -- Sovereign wealth and other public funds -- Where did all their money come from?. State-led economic development -- Conclusion. At the end of World War II, the United States had all the money -- and all the power. Now, America finds itself cash poor, and to a great extent power follows money. In The End of Influence, renowned economic analysts Stephen S. Cohen and J. Bradford DeLong explore the grave consequences this loss will have for America's place in the world. America, Cohen and DeLong argue, will no longer be the world's hyperpower. It will no longer wield soft cultural power or dictate a monolithic foreign policy. More damaging, though, is the blow to the world's ability to innovate economically, financially, and politically. Cohen and DeLong also explore American's complicated relationship with China, the misunderstood role of sovereign wealth funds, and the return of state-led capitalism. An essential read for anyone interested in how global economics and finance interact with national policy, The End of Influence explains the far-reaching and potentially long-lasting but little-noted consequences of our great fiscal crisis. Cohen and DeLong (regional planning and economics, U. of California, Berkeley) explore how America's international trade deficit might impact its power in the world. They illustrate the ways the US lost its money, how oil-producing and Asian manufacturing countries now hold the money, and America's relationship with China, which is the biggest holder of US debt. They discuss consequences regarding the loss of foreign policy, cultural, and industrial power. There is no bibliography. References are available online. Annotation ♭2010 Book News, Inc., Portland, OR (booknews.com) At the end of World War II, America had all the money and all the power. Now, after the Great Crash of 2008, America is cash poor. In The End of Influence, world-renowned economists Stephen Cohen and Brad DeLong argue that this loss will have grave consequences for Americas standing in the world, even as it opens up new opportunities for a new multilateralism. Our new era will be marked by a loss of American power to dictate foreign policy, a loss of American soft cultural power, and a loss of entrepreneurial innovation worldwide -- publisher description Introduction : When Other Countries Have The Money -- The Neoliberal Dream Ends -- What The Dream Had Been -- Sovereign Wealth And Other Government Funds -- Where Did All Their Money Come From? -- State-led Development -- Conclusion : Other Countries' Money. Stephen S. Cohen, J. Bradford Delong. Includes Index. Citing America's cash-poor status following the economic crash of 2008, an analysis of the nation's prospects as a continuing super-power predicts how the United States will lose its ability to dictate foreign policy, influence soft culture and pursue worldwide entrepreneurial innovations. At the end of World War II, America had all the money-and all the power. After the Great Crash of 2008, America is cash poor. This title argues that this loss of liquid capital can have grave consequences for America's standing in the world.