America's Role in the New World Economy


The postwar economic order dominated by the United States is unraveling. In its place is emerging a world dominated by three major trading blocs controlled by the leading industrial powers of Europe, North America and East Asia. If the movement toward such a tripolar system continues, all countries outside those blocs—the industrializing but heavily indebted countries of Latin America, the impoverished nations of the Third World and the East-bloc countries that are belatedly entering the free-market system—will be at a decided disadvantage and may fall further behind.

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