Sheldon Parris
Prof. Sonia Begert
English 102
11 Nov. 2015
Literature Review
The United States
for many years now have been struggling with a very large deficit that has only
been increasing in time. We as a nation fall under the category of one of the
most in debt countries in the world, and currently are ranked 6th,
however this is based upon population. If you were to simply look at dollars
owed by a country, sadly the U.S is ranked 1st. In this paper I am
going to address China one of the U.S. main creditors, and why things have
gotten so out of hand. Not only do we owe money to China but we borrow money
from them to in turn purchase Chinese exports. With all of the research that I
have gathered, I’m going to explain why it is this way, and how our nation can
attempt to turn things around.
Dorn, James A. "The Debt Threat: A Risk To U.S.-China
Relations?." Brown Journal Of World Affairs 14.2 (2008): 151-164. Academic
Search Premier. Web. 6 Oct. 2015.
As
we all know China has become the
largest debt holder of the United States. I chose this article because
it goes into detail about how the debt could cause our peaceful relations to
cease. Dorn further talks about strategies to continue peaceful relations and
ways to go about paying off trillions of dollars of debt and how economic
nationalism will only interfere with that. This article pertains well to my
topic because I am
Glick, Reuven, and Mark Spiegel. "External Imbalances And Adjustment
In The Pacific Basin: Conference Summary." Economic Review (03630021)
(2006): 82-84. Academic Search Premier. Web. 20 Oct. 2015.
This article goes into detail about the US and China trade deficit. This is interesting
because this article is from about 10 years ago, so it will be interesting to
see the numbers now and the numbers now. This will benefit my paper when I’m
talking about how much more we owe china now compared to 10 years ago.
Michael. "Government Set to Default Weeks Earlier Than
Forecast." The New York Times. The New York Times, 01 Oct. 2015. Web. 13
Oct. 2015.
This newspaper article talks about debt limits and what our country can sustain. Which
currently we cant sustain what we are at, meaning it needs to turn around. If
it gets to 20 trillion there will be a lot of problems. This article will help
me create a capturing intro and thesis.
Pisano, Mark. "New Rules And New Realities: National Renewal And
Fiscal Sustainability In The Twenty-First Century." National Civic Review 101.1
(2012): 4-7. Academic Search Premier. Web. 20 Oct. 2015.
This article kind of refers to one of the previous one about fiscal
sustainability in the 21st century. It also gives ways to get back
on track and improve our
national economy. This is probably my favorite source I have and will be
the most help when writing my paper. Its peer reviewed which is even better.
Sharma, Shalendra D. "China As The World's Creditor And The
United States As The World's Debtor." China Perspectives 2010.4 (2010):
100-115. Academic Search Premier. Web. 6 Oct. 2015.
In 2006 USA became the
worlds largest debtor in the world, and China became the worlds largest
creditor. This is crucial to my topic and has lots of desatils about why that
happened. One thing I found that is unreal is that china loans us money to turn
around and buy their products.
"U.S. Budget Deficit Rose in July, but 8-Year Low Is Expected for
Year." The New York Times. The New York Times. 12 Aug. 2015.
Web. 13 Oct. 2015.
This newspaper article was releases in August of 2015, with figures that
may look promising. This year is
the lowest deficit in the last 8 years, but only by 1.1%. Thus meaning
it could be a fluke or could not be. The reason I’m using this source is
because of the info about our budget.
Velk, Thomas, Olivia Gong, and Ariel S. N. Zuckerbrot. "A
Trans-Pacific Partnership." Antitrust Bulletin 60.1 (2015): 4-13. Academic
Search Premier. Web. 20 Oct. 2015.
This article makes an argument about a non-political partnership between
US and China and what major
economical problems each country is facing. This article will be a large
help to my overall body paragraphs, and providing great arguments.
Yang, Chan. "China To Europe's Rescue: "Benevolent
Generosity" Or "Financial Machiavellianism"?." China
Perspectives 2011.3 (2011): 86-87. Academic Search Premier. Web. 6 Oct. 2015.
This article is about how China is not only helping the U.S and hurting us at the same time,
but how now Europe is now becoming more and more in debt tot them as well. This
will help provide me with information about the economical strength of China.
Woods, Ngaire. "Whose Aid? Whose Influence? China, Emerging
Donors And The Silent Revolution In Development Assistance." International
Affairs 84.6 (2008): 1205-1221. Academic Search Premier. Web. 6 Oct. 2015
This
article talks about the foreign
aid of many countries including China and how they are looking to change
some “economic rules” overseas which could have a large effect on how we do
business with them. This will help make a great conclusion
U.S. Debt And Soverign Wealth Funds." Brown Journal Of World
Affairs 14.2 (2008): 175-181. Academic Search Premier. Web. 20 Oct. 2015.
This article is an interview which talks about external debt, meaning foreign affairs, and how
they are affecting our economy. He talks about the impact of the issues
and implements new ideas and staregies to turn this around. This will also be a
part of my thesis and intro.
Steinbock, Dan. "The Great Triangle Drama: The Euro Zone Debt
Crisis, The U.S. Fiscal Cliff, And Chinese Growth Prospects." American
Foreign Policy Interests 35.2 (2013): 108-118. Academic Search Premier. Web. 20
Oct. 2015.
This article talks about the “Great Triangle Drama” Which is the US,
Many countries in Europe
and China, and how the debt correlates. This article on how china is
looking to build equity with less growth prospects. This is important when
talking bout Chinas future plans in my paper.
Breen, Michael, and Iain McMenamin. "Political Institutions,
Credible Commitment, And Sovereign Debt In Advanced Economies."
International Studies Quarterly 57.4 (2013): 842-854. Academic Search Premier.
Web. 20 Oct. 2015.
This article has a large amount of information about how advanced
economies, such as the USA, China, and many other countries around the world.
It also states points and facts about sovereign debtors and there effects on the global economy.
This article is very useful for my paper because it provides information from
around the world about how different economies work, thus distinguishing the
problems with our.
Allen, Michael A., and MATTHEW DIGIUSEPPE. "Tightening The Belt:
Sovereign Debt And Alliance
Formation." International Studies Quarterly 57.4 (2013): 647-659. Academic
Search Premier. Web. 6 Oct. 2015.
This article talks about how sovereign nations and there debt allows states to
maintain stable tax rates. Access to affordable credit will allow a buffer
between “political consequences” and “fiscal policy”. Thus being said this
article is influencing that states that create alliances will be able to offset
a diminished access to credit. This article will be useful in my paper because
it goes in depth about states becoming an alliance and what that can do
Mcculloch, J. Huston. "An Improved Balanced Budget
Amendment." Independent Review 17.2 (2012): 219-225. Academic Search
Premier. Web. 20 Oct. 2015.
In 2012 our national debt was
15.4 trillion, increasing nearly 6 trillion dollars in 2009. Thus meaning 2 trillion
dollar debt increase between those years on avg. This will be a great source to
strengthen my argument, since China is large contributor.
Fouskas, Vassilis K. "Sovereign Debt Crisis And Peripheral
Capitalisms." Politicka Misao: Croatian Political Science Review 48.5
(2011): 175-192. Academic Search Premier. Web. 20 Oct. 2015.
This article explains the history of sovereign nations and national debts focusing of the
global east, which includes China. The history of Chinas debt is crucial in
understanding where they are today, and our relationship with them. It also
sheds light on how there economy has grown since the 90’s. This will be a great
source to use when it comes to the history aspect of my paper, which in turn
will help validate more of my points and reasons.
Fraser, Steve. "Another Day Older And Deeper In Debt."
Raritan 33.2 (2013): 67-82. Academic Search Premier. Web. 20 Oct. 2015.
This is an article that was very interesting and I thought could be a
valuable when it comes to the
history of America’s national debt and things like that. The main points
of this article include things such as what our founding fathers views on
national debt along with Alexander Hamilton’s approach on it.
“China's Total Debt Load Now Over 280% Of GDP." Forbes. Forbes
Magazine, n.d. Web. 13 Oct. 2015.
I chose this article from for Forbes not so much for all of the
content although it is interesting, but because it goes into detail about GDP. Gross Domestic Product (GDP)
is primarily the overall size an health of a countries economy. When talking
about our national debt, our GDP will come up a lot in my paper, and this
article gives a lot of insight on what that is.
Larson, Ann. "We Are All Debtors." South Atlantic Quarterly
112.4 (2013): 812-817. Academic Search Premier. Web. 20 Oct. 2015.
After reading a good bit of this article, I must say it had a lot of
good info, but was worded with words I had never heard before, which made it
hard. However after understanding the
majority of it talks mostly about SPE (Special Entities) and public debt. Both are very broad but
will provide a nice help when it comes to the outline of my paper.
