EC 92 and the United States
Abstract
The world is undergoing tremendous change in the 1990s. Instead of a bipolar world where military might was the power, we are now entering a multipolar world where economics is the power. The emergence of a single Western European market, commonly referred to as EC 92, will challenge the United States on the world market. The single European market, scheduled for completion in eight months, is an organization of 12 nations whose ambitious goal is to transform the Community into an area without internal frontiers for goods, capital, services and people by December 31, 1992. The United States cannot afford to ignore this market of 320 million customers. To be able to compete with EC 92, the U.S. will have to make changes in the relationship between government and industry, and industry will have to become more innovative in cutting production costs and in improving the quality of the product. The U.S. also needs successful negotiation of the current Uruguay round of the GATT talks. The voices of isolationism and protectionism are on the rise - both here and in Europe - strengthened by a stagnant European economy and America's search for a scapegoat. The world has changed to become a global marketplace and the United States just hasn't done enough to adjust to the new challenges of economic competition. American Politicians and industrial leaders need to begin focusing on the long-term improvement of American competitiveness and establish a strategy to successfully deal with this new economic giant.
Document Details
- Document Type
- Technical Report
- Publication Date
- Apr 15, 1992
- Accession Number
- ADA250316
Entities
People
- Richard L. Freeman
Organizations
- United States Army War College