Economic cooperation Essay

Talks on economic cooperation between China and the US ended with a â€Å"broad agreement on separate strategies† to help their economies recover. The US agreed on inducing fiscal discipline from the personal until the federal level and China, to bolster domestic spending. The talks also resolved to cooperate in combating climate change by shifting to low-carbon economies as they progress and reinforce their current economic standing. The talks will make the political process focus on the economic strain and fiscal constraints as a new strategy to revive the economy for the US, and increasing government spending and relying less on foreign demand for China. Of course, these strategies could go under fire from some political opposition and criticism, but the backing of a foreign agreement could bolster support for both agreed positions for economic recovery both from the government and the grassroots. Policies and ordinances could be prompted to be enacted to follow through with the agreement with China and vice versa. Campaigns on the tightening of belts from the organizational to the individual level can be expected from the government. NGOs and other organizations can strongly advocate for these policies or criticize them either way. This agreement can make the government and the citizens work hand in hand to create a political environment where cooperation is paramount to dig the countries out of their financial pothole. The general direction of the talks, however is geared more toward the affirmation that a change in spending habits by the government, by the individual and by the organization should be limited and focus more on saving. Many would go toward this direction as the difficulties of the economic meltdown touch many people, forcing them to go for bargains if they can’t afford not to spend. China, on the other hand can be seen to use the same approach the US used during the financial difficulties in the 1950’s. http://edition. cnn. com/2009/POLITICS/07/28/china. stimulus/index. html? iref=newssearch U. S. , China agree on economic strategies [July 29, 2009 — Updated 1017 GMT (1817 HKT)]