Opposite nowadays in mid 1990ies USA was in unprecedented economic boom and globalizations was the popular concept. “Peace through strength” was being replaced by “peace trough prosperity. Despite it necons ignored importance of globalization in USA economic and foreign policy and supposed that globalization would soon pass. And now Bush acting opposite Clinton’s successive approach in foreign policy and economics. He didn’t consider the global economic leadership vital to the national interest.
Over the last three years, until 2005, the dollar has declined by around 35 percent against the euro and 25 percent against yen, driven by low U.S. household savings, the ballooning USA trade and budget deficits, and mounting concern that foreign investors are growing wary of financing America’s expenditures. …
