China has claimed land in the South China Sea, which has threatened neighboring countries and the United States. As US Representative to the International Monetary Fund (IMF), I have come up with a policy that goes along with the current Representative, Secretary Jacob Lew to reduce the threat through economic means. Currently, “The United States does not take a position on the sovereignty of any of the land features in the South China Sea, but we do believe that all claimants should exercise restraint as we go forward” (U.S.-China Press Statements). We can restrain their claims by becoming better economic partners or through use of economic force such as economic sanctions.
China’s territorial expansion can be shown through the DIME model. …show more content…
Representative to the IMF can focus on the economic problem that has resulted from China’s territorial expansion. The International Monetary Fund, also known as the IMF, was created “to build a framework for economic cooperation to avoid a repetition of the competitive devaluations that had contributed to the Great Depression of the 1930s” (About the IMF). Its mission is to “ensure the stability of the international monetary system by keeping track of the global economy and the economies of member countries; lending to countries with balance of payments difficulties; and giving practical help to members” (About the IMF). The international monetary system is a “system of exchange rates and international payments that enables countries to transact with each other” (About the IMF). The US Representative to the IMF and other countries work together to ensure that the mission is achieved. Jacob J. Lew, the current U.S. Secretary of Treasury is the U.S. Representative to the …show more content…
United States and China both make significant contributions to the IMF. As Secretary Lew has mentioned, “The two largest economies, the United States and China has a unique responsibility to work together to advance shared prosperity, maintain a constructive global economic order, and make progress on critical challenges like climate change.” However, China could pay more into the fund, especially if they are claiming land that will make their economy more prosperous. China and the United States need to be on the same terms of understanding, so that both economies can improve. Lew stated, “This year, we will hold the seventh U.S.-China Strategic and Economic Dialogue, a platform that has strengthened relations between our two countries and provided a forum for discussing important priorities like China’s shift to toward consumption-led growth and greater transparency and predictability in its policymaking.” These meetings will help put America and China on the same page, but China needs to be willing to comply and work with America. So, if America does not want China to be claiming some territory that is not theirs, then they should back out of that operation. Secretary Lew said, “I urged continued
China’s territorial expansion can be shown through the DIME model. …show more content…
Representative to the IMF can focus on the economic problem that has resulted from China’s territorial expansion. The International Monetary Fund, also known as the IMF, was created “to build a framework for economic cooperation to avoid a repetition of the competitive devaluations that had contributed to the Great Depression of the 1930s” (About the IMF). Its mission is to “ensure the stability of the international monetary system by keeping track of the global economy and the economies of member countries; lending to countries with balance of payments difficulties; and giving practical help to members” (About the IMF). The international monetary system is a “system of exchange rates and international payments that enables countries to transact with each other” (About the IMF). The US Representative to the IMF and other countries work together to ensure that the mission is achieved. Jacob J. Lew, the current U.S. Secretary of Treasury is the U.S. Representative to the …show more content…
United States and China both make significant contributions to the IMF. As Secretary Lew has mentioned, “The two largest economies, the United States and China has a unique responsibility to work together to advance shared prosperity, maintain a constructive global economic order, and make progress on critical challenges like climate change.” However, China could pay more into the fund, especially if they are claiming land that will make their economy more prosperous. China and the United States need to be on the same terms of understanding, so that both economies can improve. Lew stated, “This year, we will hold the seventh U.S.-China Strategic and Economic Dialogue, a platform that has strengthened relations between our two countries and provided a forum for discussing important priorities like China’s shift to toward consumption-led growth and greater transparency and predictability in its policymaking.” These meetings will help put America and China on the same page, but China needs to be willing to comply and work with America. So, if America does not want China to be claiming some territory that is not theirs, then they should back out of that operation. Secretary Lew said, “I urged continued