When: December 1, 2009
From: 11:30 AM - 01:30 PM
Location: Santa Fe Hilton, 100 Sandoval Street
Cost: $25/CIR Members; $32/Non-members and Guests
Topic: Globalization–Benefits and Costs
Presenter: David Blond
Since the end of World War II, the dominant trend in the world economy has been towards greater integration of industrial production between countries. The United States has been a leader in this effort and as a result the size of the American deficit both on its current and trade accounts has ballooned while the surplus of China has grown. The cumulative amount of IOUs to the world passed out over the period 1990 through 2009 is equal to $ 7.4 trillion dollars while at the same time the cumulative surplus of China has increased by 1.8 trillion dollars.
This talk will focus on the current state of the global economy and using a large, interrelated forecasting model, describe where it is likely to go over the next five years. The discussion will center on what can be done to revive American manufacturing—the basis of our past wealth and a key to our future growth—without precipitating a global trade war in which there are no winners.
- Is the size of the deficit of little or no importance given the importance of the US dollar as a reserve currency and also as an instrument of international finance?
- Is our trade deficit the cause of the hollowing out of our manufacturing base and the loss of higher paying factory floor jobs?
- Is globalization the real cause of the current economic downturn?
David L. Blond, an International Economist and Economic Consultant, holds a Ph.D. in International Economics from New York University and heads the consulting firm QuERI-International, Inc. based in Santa Fe. His expertise includes globalization and economic development, project management, modeling, forecasting and analysis of domestic and international economies.
Dr. Blond will go beyond the theoretical concept of free trade and discuss its balance and practical effects.