ng manufacturing jobs. Thus, over the long term, the American economy, the corporations, and their political allies will all lose, along with the majority of the American population.
Sassen Koob relied on data reflecting events in the decade of the 1980s. These data permitted a conclusion that Los Angeles was a growth economy while New York was a doomed economy over the long term. The end of the Cold War, however, also brought an end to the type of high tech manufacturing growth on which the Los Angeles economy had been based. In 1992, the Los Angeles economy, far from being the prototype of the future, is declining, and that decline was a major contributor to the political defeat of the Bush Administration in the general election.
As 1992 nears its end, regional economic integration continues to accelerate, the General Agreement on Tariff and Trade continues to flounder, and Asia continues to set the pace in economic growth. Economic growth in Asia is being fueled by traditional manufacturing, not be the production and export of advanced services.
While all of the efforts at increased regional economic integration continues, the member countries of the GATT remain unable to settle their differences. Primarily, the United States
and the EC continue to accuse one another of maintaining unfair subsidies and enforcing artificial barriers to trade, while, at the same time, remaining committed to their own subsidies and artificial trade barriers. A case in point is the statement by President Bush to the Australian parliament. The President told the Australians that the United States had no intention of abandoning its agricultural subsidies, or of relaxing import restrictions on Australian beef. The President made this statement on a stop over on his way to Japan, where he berated the Japanese for their import restrictions against American products. That the two conflicting actions make American trade policy an oxymor...