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| Picture Credit: domaingang.com |
The Bush administration's military expansion has connections to its economic expansion. Large US-based transnational oil companies, looking for increased profits, played an important part in the invasion and occupation of Iraq, which has the world's second largest proven oil reserves. Through the International Monetary Fund, the World Bank and the World Trade Organization, the US exercises economic power over poorer countries and shapes the international trade framework.
However, the US financial position is deteriorating, due largely to its growing trade deficit. The US is more dependent on the rest of the world for capital than at any time in the past 50 years. Analysts argue that the US can neither sustain nor expand its empire under these conditions. Increased military spending and other related costs put further pressure on the weakened economy, through government deficits, reduced social safety nets, unemployment and sinking domestic demand for goods and services outside the military sector.
General Analysis on Economic Expansion
This section provides a general overview of economic expansion and empire.
The Dark Side of Natural Resources
This section posts information on natural resources in conflict, including diamonds, minerals, oil and natural gas, timber and water.
Transnational Corporations
This section explores how TNCs dominate the global economy and exert their influence over global policymaking, including the increasing influence of corporations at the UN.
The Three Sisters and Other Institutions
This section posts information on the most influential international actors and institutions in global social and economic policy, including the World Bank, the IMF, the WTO, and the G7/G8. The section also covers internal critics of the World Bank and the IMF.
International Trade Agreements
This page provides information on international trade agreements such as NAFTA and their impact on development, market control and concentration of resources.
Dollarization
This section posts on the US dollar's leading role in the global economy.
