United States Should Increase Relations and Trade with Foreign Countries

July 18, 2013

Declining economic freedom in the United States continues to threaten Americans' prosperity and opportunity. In 2013, the U.S. score on the Index of Economic Freedom, published annually by the Heritage Foundation and the Wall Street Journal, dropped for the sixth year in a row. The United States clings to the ranks of the world's Top 10 most economically free, but just barely. It remains in 10th place again this year, which is still just a "mostly free" country, says the Heritage Foundation Economic Freedom Task Force.

This reduction in freedom has been accompanied by stagnant growth in the U.S. economy and persistently high unemployment.

  • Promoting adoption of the revitalizing policies of economic freedom in the United States is essential to creating good new jobs for Americans.
  • It is also vital to promote economic freedom abroad since U.S. companies and workers increasingly rely on international trade and finance to improve productivity and build markets.
  • America is a global economic superpower, but to remain so, its government and business communities must encourage the free flow of capital, goods, services, people and ideas around the world that contribute to ongoing U.S. and global prosperity.

A diverse team of policy experts from the Heritage Foundation made key observations about seven global regions and the influence the United States could have there: (1) sub-Saharan Africa, (2) North America (Canada and Mexico), (3) Asia, (4) the Middle East and North Africa, (5) Central and South America and the Caribbean, (6) Europe, and (7) Russia, Ukraine, Central Asia and the Caucasus.

American leadership can be decisive in promoting property rights and anticorruption measures in other countries. In addition, the United States should pursue more trade agreements around the world and stress the importance for all governments (including the United States) to identify and reduce support for state-owned enterprises that are breeding grounds for cronyism. This global agenda can and should be implemented.

Source: "2013 Global Agenda for Economic Freedom," Heritage Foundation, July 8, 2013.

 

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