Chapter 31: America in the Global Economy

Globalization:
- Interdependence/connection between countries and businesses.
- Huge increase in trade, especially since the 1990s.
World Trade Organization (WTO):
- Regulates trade between nations (international trade).
European Union:
- Dozens of European countries with a common currency (Euro).
Chinese Economy:
- Significant growth since 2000.
- Elements of capitalism within the Communist Party.
- The 2016 election: outsourcing of jobs to China.

Group of Eight (G8):
- Controls most financial organizations, including the International Monetary Fund (IMF).
North American Free Trade Agreement (NAFTA):
- No tariffs on trade between the U.S., Canada, and Mexico.
- Leaders when NAFTA was initiated: George H.W. Bush (signed by Bill Clinton).

Multinational Corporations:
- Businesses operating in many countries (e.g., Walmart, Amazon, Apple).
Deregulation:
- Many banks and financial institutions saw deregulation, starting under Ronald Reagan.
Growth of PCs and the Internet:
- The 1990s saw a surge in personal computers and internet use.
E-commerce:
- Rise of e-commerce businesses like Amazon.

Majority-Minority Nation:
- By 2004-2050, the U.S. will become a majority-minority nation.
Immigration:
- 1970-2000: 28 million immigrants came to the U.S.
- Immigration and Nationality Act of 1965:
  - Eliminated the quota system from the 1920s.
  - Immigrants with skills in high demand could come to the U.S. more easily.
  - Immediate family members of legal immigrants could come to the U.S. more easily.
  - Encourages immigration and many immigrants send money back home.

The New Right:
- Focuses on marriage between a man and a woman (opposed to same-sex marriage).
- Anti-abortion stance, a major distinction between Democrats and Republicans.
- Democrats tend to be pro-choice, while Republicans tend to be pro-life.
- Roe v. Wade (1973):
  - Organized protests outside abortion clinics.
Gay Rights:
- Defense of Marriage Act (DOMA):
  - Passed in the 1990s, allowed states not to recognize same-sex marriage; overturned by the Supreme Court in 2013.
- Webster v. Reproductive Health Services (1989):
  - States could limit funds for abortion.
- Planned Parenthood v. Casey:
  - Allows states to require a 24-hour waiting period before an abortion.

Political Polarization:
- Parties became more polarized or less willing to compromise since the 1990s.
- The growth of cable news.
1992 Election:
- Clinton defeated Bush and Ross Perot.
Healthcare:
- Clinton pushed for universal healthcare.
Balanced Budget:
- In 1998, we had a balanced budget.
Newt Gingrich:
- Speaker of the House with his Contract with America.
- Called for tax cuts, reduction in welfare, and government regulations.

Impeachment:
- Charged with perjury and obstruction of justice.
- Scandal with Monica Lewinsky led to a highly publicized trial, ultimately resulting in his acquittal by the Senate.
- Most Americans opposed impeachment.
- Clinton, like Andrew Johnson, was not removed from office.
NATO Expansion:
- Expanded rapidly in the 1990s, including former Soviet-controlled countries.
- This upset Russia.
Breakup of Yugoslavia:
- Bosnia and Herzegovina declared independence in 1992.
- Slobodan Milosevic committed genocide or ethnic cleansing, leading to NATO bombings.
- By 2008, seven countries were around from former Yugoslavia.

Middle East:
- Leaving troops in Saudi Arabia upset many people.
1993 World Trade Center Bombing:
- First World Trade Center bombing.
- Six people were killed, and over a thousand injured.
U.S. Embassies Bombings:
- U.S. embassies in Kenya and Tanzania were bombed in 1998.
USS Cole Bombing:
- The USS Cole ship in 2000 was bombed by Al-Qaeda.

2000 Election:
- George W. Bush against Al Gore.
- Gore won the popular vote, but Bush won the electoral vote.
- The Supreme Court intervened in the recount efforts in Florida.
Tax Cuts:
- Economic Growth and Tax Relief Act:
  - Decreased income and estate taxes.
Federal Spending:
- Increased federal spending.
- Medicare and Medicaid spending is uncontrollable.

September 11, 2001:
- 19 terrorists hijacked four planes.
- Two crashed into the World Trade Center.
- One crashed into the Pentagon.
- One crashed in Pennsylvania.
War in Afghanistan:
- The U.S. fought the Taliban in Afghanistan for hiding Osama bin Laden.
- Osama bin Laden: leader of Al-Qaeda and architect of the 9/11 attacks.
Patriot Act:
- Increased the government's power to monitor Americans without always having a search warrant.
- During times of war, personal liberties decrease.

Iraq War:
- The U.S. invaded Iraq in 2003 without a U.N. resolution.
- Argument: Iraq was associated with terrorism and had weapons of mass destruction.
Prison Scandal:
- In 2004, there was a prison scandal in which pictures and videos showed American guards torturing and abusing suspected terrorists.
  called the Abu Ghraib scandal, which drew widespread condemnation both domestically and internationally.
2004 Election:
- Bush versus John Kerry.
Same-Sex Marriage Bans:
- Eleven states passed bans on same-sex marriage.
Hurricane Katrina:
- Devastated New Orleans, killing more than 2,000 people.
2008 Recession:
- The stock market tumbled, and unemployment reached 10%.
- Housing prices plummeted.

Economic Stimulus:
- Focused on an economic stimulus package.
- Pushed for healthcare and Wall Street regulation.
- American Recovery and Reinvestment Act:
  - Provided 787 billion to states for projects.
Tea Party:
- Taxed Enough Already Party began to emerge.
- A right-wing group critical of large government in Obama's healthcare plans.
Don't Ask, Don't Tell Repeal:
- In 2011, Obama repealed the military's Don't Ask, Don't Tell policy.
- Sonia Sotomayor: the first Latina on the Supreme Court, appointed by Obama.
Arab Spring:
- A series of protests that led to the downfall of several regimes in the Middle East.
- In May 2011, SEAL Team Six killed Osama bin Laden in Pakistan.
Climate Change:
- A major issue of the 2000s.
- Impacts of higher temperatures include higher sea levels and agricultural difficulties.
- The Kyoto Protocol was a treaty to limit carbon emissions, and the U.S. is not a signatory.
Obama's Victories:
- Based on an electorate that was multicultural, young, and included many females.