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US Economic Engagement Essay

2872 Words12 Pages

Due to US’s material superiority, some claim that it will continue being a hegemonic power for extended period of time; nevertheless, others predict that we are moving into a multipolar world, associated with great diffusion of power internationally. One reason for this is the global financial turmoil and its negative impact on US economy and its damage to the US model of capitalism. There has been a claim, put forward by many that US power might be declining at the near future, while China’s rising economy might lead to a significant power transition. China is indeed a strong economic nation; it had developed trading relations with US that increased their interdependence. However, its ambitious future holds for more regional control of its …show more content…

In 2012, US-ASEAN Expanded Economic Engagement (E3) was launched that deepened economic ties between the parties. Another program called the ASEAN Connectivity for Trade and Investment (ACTI) has been implemented to strengthen the trade and investment environment in ASEAN by combining the expertise and resources of USAID and major US corporations. Through the program of ACTI, US is providing provision for the building of the ASEAN Single Window, an assurance of ASEAN’s progress in economic integration. It “aims to improve the trade and investment-enabling environment and enhance regional integration and private sector competitiveness.” The ASEAN Single Window will have an effect on lowering costs for businesses, allowing increased trade that supports jobs and business opportunities in the United States and ASEAN. Secretary Kerry, on his visit to Myanmar said: “ASEAN, (…), is fundamental to being able to uphold a rules-based system in the Asia Pacific, and ensuring that all countries, big and small, have a say in how we work together in order to deal with shared challenges. That’s why we’re investing in ASEAN.” It is quite explicable what the United States is trying to accomplish through all these collaboration with ASEAN member states. Their active involvement leads us to think that their interest to advance and compete with China is significant. It is a good tactic for US to balance the power against China in the region at the same control China’s

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