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What are the key foreign economic policies issues facing the United States in the second half of this decade? How can the administration and Congress meet the economic challenges that lie ahead? This new book analyzes the dramatic importance of the world economy to both the domestic prosperity and overall foreign policy of the United States, describes the new global environment (e.g., the rise of China as a global economic superpower and the completion of European unification) in which US policy must operate, and proposes major US initiatives on a wide range of international economic issues, including correction of the huge current account deficit, new trade negotiations, and energy. Individual chapters by senior staff of the Institute on each of the key topics are included. About the Author C. Fred Bergsten has been the director of the Institute for International Economics since its creation in 1981. He is also chairman of the ?Shadow G-8,? which advises the G-8 countries on their annual summit meetings, and the TransAtlantic Strategy Group, created by the Bertelsmann Foundation. He is the author, coauthor, or editor of 34 books on a wide range of international economic issues. Table Of Contents Foreign Economic Policy for the United States A New Foreign Economic Policy for the United States The Policy Context The payoff to America from Global Intergration Uneven Gains and Unbalanced Burdens? Three Decades of American Globalization China: The Great New Economic Challenge? The United States and the Large Emerging-Market Economies: Competitors or Partners? The Key Issues Sustaining Global while Reducing External Imbalances Energy: A gathering Storm? Confronting Current Challenges to US Trade Policy Offshore Outsourcing and the Globalization of US Services: Why Now, How Important, and What Policy Implications Easing the Adjustment Burden on US Workers Challenges for US Immigration Policy The International Financial Architetcure Fostering development