The Global Triad: US, EU And Japan

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The Global Triad: US, EU And Japan

With the globalization of Economic, especially financial globalization, economy in each country is becoming interdependence, mutual influence, mutual promotion. As a whole economic system, it has a sharp rise on unprecedented dependence and economic and financial volatility and crisis undergo a sharp increase on conductivity and unprecedented dependence. Not a single nation-state and economic entity remains existence and development in closed-door policy of economic conditions independent. The overall dependence among the countries is impossible to balance on the other, the developed countries benefit more than the developing countries. US, EU, Japan as the world’s major economies, global economic development has an important role in the world economy. To a certain degree, the estimate of world economy is becoming the economic estimate of the three greatest economical entities of the US, EU and Japan(Harborne, 2009).

U.S.

America’s economy has a large and strong power in global economic growth, therefore, it plays a very important role in the global economic growth(Raa, 2000). And global economic prospects depending largely on the U.S. economy has become the consensus to the most. Contemporary international economic system as the number one economic power, the U.S. indeed has an advantage in many ways, making the U.S. economy’s driving force. The U.S., the biggest driver for a total of three: first, advanced technology; in today’s world America’s technological achievements help the U.S. to remain the advantage in economic strength and political hegemony on the world situation and international relations, and it has produced a huge and profound impact on the world development. Second, globalization and trade liberalization make an economic contribution of the U.S.; most of the participants in globalization which is dominated by the U.S., have brought great benefits, but no doubt that the U.S. is one of the winners benefit most. The U.S. gain enormous benefits from globalization, but also it also results more revenue for further globalization. Third, the U.S. financial hegemony. Since the mid-1970s, he U.S. dollar has become a no policy constraints, that can be free to issue currency notes. This is the beginning of dollar hegemony. Three wheels just like these three areas – like drive the U.S. economy forward, at the same time it also plays a great role in world economic development. The world’s economic growth driven largely depend on the U.S. economy, so the U.S. trade, capital, information depth of industry, size, will affect the world economy. According to statistics, U.S. economic growth in 1999 makes a contribution of 40% to world economic growth; from 1999 to 2000, the Asian countries except Japan, 20% of economic growth is dependent on the U.S. information technology exports.

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EU

European Union, although both belong to the economically developed areas like the U.S., the market structure and industrial structure has the obvious differences and gaps compared with U.S, so the EU’ s influence in the world market will be significantly less than the U.S., but it also directly or indirectly affects the European economy ability to drive world economic growth(Heinemann, 2003). European Union has rapidly improved its economic power and enhanced international competitiveness through the European OECD, the European Community, European Free Trade Area, and other means. In particular, after the EU ‘s establishment, it has accelerated development of capital goods free movement of laborers among member countries, promoting the development of national economies. To Europe: both through regional economic integration, it can eliminate trade barriers and other obstacles among member countries, as well as it could result market capacity expansion and deepening of the market and has created favorable conditions to economic boom, in line with European countries and the European interest. It vigorously promoted the European economy political development, enhancing Europe’s international political and economic status too; to the whole world: EU has played an exemplary role the rest of the world economic integration, and enhanced the trend towards a multiple world economy, promoting the formation of a new pattern of world politics.