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Economic Worries Undermining Americans' Global Confidence
added: 2008-10-15

A new survey released by The Chicago Council on Global Affairs shows Americans are increasingly anxious about the worsening U.S. economy and America's relations with the rest of the world.

At a time of great economic uncertainty, securing adequate supplies of energy is a major concern, along with protecting the jobs of American workers and public unease over the distribution of income and wealth in the United States. These concerns are reflected in largely negative views of globalization, immigration, NAFTA, and the U.S. economic future. Among the surveys findings:

- 82% of Americans favor fixing pressing problems at home rather than addressing challenges to the U.S. from abroad;
- A large majority of Americans (78%) view protecting the jobs of American workers as a "very important" foreign policy goal;
- 60% of Americans believe that the next generation of Americans will be economically worse off than today's working adults;
- 80% of Americans think that securing adequate supplies of energy is a "very important" goal for U.S. foreign policy, more than 10 points higher than the goal of combating international terrorism.

"Economic anxiety is clearly fueling concerns about globalization," warns Marshall M. Bouton, president of The Chicago Council on Global Affairs. "Unless these concerns are addressed by the incoming administration, whether Republican or Democratic, America's commitment to globalization will be at risk."

Initially fielded in July and followed up with a shorter poll during the financial crisis in September, the poll points to a growing concern over the effects of globalization on the United States with 65 percent saying globalization is bad for the job security of American workers and 58 percent saying it is bad for creating jobs in the U.S. Nevertheless, a majority of Americans (58% in July and 56% in September) believes that globalization is "mostly good" for the country as a whole; this is down from a high of 64 percent in 2004.

The foreign policy goal of securing adequate supplies of energy is at its highest level in these Chicago Council surveys since the oil crisis of the 1970s. Eighty percent of Americans see it as a "very important" goal in July (77% in September). This puts it on par with the long popular goal of protecting the jobs of American workers (80% in July and 77% in September), and higher than preventing the spread of nuclear weapons (73% in July and 66% in September), and combating international terrorism (67% in July and 65% in September). Attesting to a significant level of concern about energy, the public sees investing in renewable energy as a top concern with 74% in July saying it is a "very important" factor to the United States remaining competitive with other countries in the global economy (71% in September).

As if to underscore their concerns about energy, a majority of Americans say they are willing to rely on the military to help ensure the free flow of oil. In fact, in July 59 percent of Americans favored the use of U.S. troops to secure the oil supply, a 14-point increase from 2006. This is a higher percentage than those who favor using U.S. troops to protect American allies like South Korea if attacked by North Korea (41%) and Taiwan if invaded by China (32%).

"Given the changing climate in the United States, it is no wonder that the first two presidential debates focused so much on the economy," said Rachel Bronson, Vice President for Programs and Studies at The Chicago Council on Global Affairs. "The results of this report clearly show that Americans are increasingly aware of the United States' vulnerability in the global economy."

The American public's unease is evident in the strong majority (64% in July) that believes that the distribution of income and wealth in the United States has become less fair. Eighty-two percent of those who believe this indicate that globalization and international trade have been "very" or "somewhat" important factors in causing this change.

When asked in September, in the midst of the financial crisis, about what they see as "very important" to remaining competitive, Americans' answers focused on investments at home such as investing in renewable energy sources (71%), stabilizing U.S. financial institutions (67%), improving public education (65%), and reducing federal budget deficits (65%) - rather than outwardly focused policies such as encouraging foreign investors to invest in U.S. companies and projects (32%) supporting open trade around the world (24%), and continuing high levels of legal immigration (21%).

Meanwhile a significant majority of the public (76% in July) views immigration as "bad" for job security, while a solid majority (67%) believes it is "bad" for creating jobs in the United States. Fifty-five percent of Americans believe that the North American Free Trade Agreement or NAFTA is "bad" for the U.S. economy, up 12 points from 2004.

There has also been a sharp rise in the proportion of Americans who believe that China's economy will someday grow to be as large as the U.S. economy (76% in July 2008, up from 60% in 2006).

To remain competitive internationally, and address their economic anxieties, Americans are not reverting to isolationism. There is still strong support for international alliances, international institutions, overseas military bases, and military interventionism under certain conditions. However, Americans are looking for increased investments at home. What emerges from this study is the recognition that during this time of crisis, Americans are focusing on how to put their own house in order so that the country can better and more successfully engage with the rest of the world.


Source: PR Newswire

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