dramatic instrumental [narrator] great decisions is produced by the Foreign Policy association. In association with thomson reuters. Funding for great decisions is provided by pricewaterhousecoopers llp. [narrator] everywhere around us are signs of international trade. The basic idea of trade as economists have understood it now for two centuries is that trade expands the pie, it makes the economy more efficient, it directs resources to comparative advantages as economists say. But it also changes the income distribution. Weve come through this very long period in which the United States went from being a relatively closed economy to being quite an open one. And the result of that was a lot of competition for jobs, for wages, for export opportunities in sectors that really hadnt faced competition before. [narrator] advances in communication, technology, and transport have thrown open the door to trade like no other time in history. Globalization is history, history is globalization, no
dramatic instrumental [narrator] great decisions is produced by the Foreign Policy association. In association with thomson reuters. Funding for great decisions is provided by pricewaterhousecoopers llp. [narrator] everywhere around us are signs of international trade. The basic idea of trade as economists have understood it now for two centuries is that trade expands the pie, it makes the economy more efficient, it directs resources to comparative advantages as economists say. But it also changes the income distribution. Weve come through this very long period in which the United States went from being a relatively closed economy to being quite an open one. And the result of that was a lot of competition for jobs, for wages, for export opportunities in sectors that really hadnt faced competition before. [narrator] advances in communication, technology, and transport have thrown open the door to trade like no other time in history. Globalization is history, history is globalization, no
Democratic values while backing it up with military might, has been the dominant strategy since World War Two. But with renewed russian aggression, and a rising china, is it showing signs of strain . Pax americana, the american peace, next on great decisions. energetic music [narrator] great decisions is produced by the Foreign Policy association in association with thompson reuters. Funding for great decisions is provided by Price Waterhouse coopers llp. dramatic music [narrator] World History is marked by the rise and fall of empires. Some remembered as periods of stability and progress, others for turmoil and war. [man] this was the great fire in the city of london. dramatic music [narrator] eras when the world was free of great power conflict stand out. Pax romana, when the roman empire extended through much of europe. Or pax britannica, when the sun never set on the british empire. The original pax is pax romana, the roman empire and the peace that rome spread. Pax britannica, in
Democratic values while backing it up with military might, has been the dominant strategy since World War Two. But with renewed russian aggression, and a rising china, is it showing signs of strain . Pax americana, the american peace, next on great decisions. energetic music [narrator] great decisions is produced by the Foreign Policy association in association with thompson reuters. Funding for great decisions is provided by Price Waterhouse coopers llp. dramatic music [narrator] World History is marked by the rise and fall of empires. Some remembered as periods of stability and progress, others for turmoil and war. [man] this was the great fire in the city of london. dramatic music [narrator] eras when the world was free of great power conflict stand out. Pax romana, when the roman empire extended through much of europe. Or pax britannica, when the sun never set on the british empire. The original pax is pax romana, the roman empire and the peace that rome spread. Pax britannica, in
[narrator] great decisions is produced by the Foreign Policy association. In association with thomson reuters. Funding for great decisions is provided by pricewaterhousecoopers llp. [narrator] everywhere around us are signs of international trade. The basic idea of trade as economists have understood it now for two centuries is that trade expands the pie, it makes the economy more efficient, it directs resources to comparative advantages as economists say. But it also changes the income distribution. Weve come through this very long period in which the United States went from being a relatively closed economy to being quite an open one. And the result of that was a lot of competition for jobs, for wages, for export opportunities in sectors that really hadnt faced competition before. [narrator] advances in communication, technology, and transport have thrown open the door to trade like no other time in history. Globalization is history, history is globalization, now everybody anywhere c