Strategic competition between the US and China has dominated the former’s foreign
policy debates. The competition between the two countries is multifaceted since it involves both
military and ideological components. The US has managed to accumulate power by encouraging
agreements and establishing institutions such as IMF, the World Bank, and WTO which have
helped in deepening connectivity between and amongst economies. It is possible for America’s
Asian allies to re-orient their positions between the two major competitors, the US and China,
through UN international multilateral panels. Both the World Trade Organization and the
International Monetary Fund can help nations to compete effectively and have a solid balance of
payment.
World Trade Organization can help US Asian allies to maintain their position between
the US and China. The mandate of WTO is to ensure that the international trade flows in a
smooth and free manner (Bello 416). The organization helps to create global trade rules among
its member nations and support international commerce. By creating economic peace and
stability through a multilateral system, a balance in trade would be realized. However, member
nations have to endorse these rules for them to be part of their domestic systems. These rules
will apply to home companies that conduct business at the international level. For WTO member
countries, their laws cannot oppose WTO regulations.
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The International Monetary Fund (IMF) plays a significant role in ensuring that there is
stability of the monetary and financial system. The organization facilitates a balanced growth of
international trade and exchange stability (Gould 560). It helps nations to have an organized
correction of balance of payments problems. A balance of payment deficit is a situation where a
country’s value of imports surpasses the value of exports. If the deficit continues for a long
period, it is likely to slow economic growth (Bussiere 1609). This trend is likely to cause an
alarm on the part of foreign lenders who will be concerned whether they will get returns on their
investment. When demands go down, a country’s currency is likely to decline thus causing
inflation. However, through the intervention of IMF, the opposite is true. A country will have a
balanced trade since the difference between the imports and exports will not be too much.
Second Problem: Climate Change
The Paris Agreement’s main goal is to support the world’s effort to combat the threat of
climate change. The Accord seeks to keep temperature rise below 2 degrees Celsius above pre-
industrial levels. It also seeks to limit global temperature to 1.5 degrees Celsius and increase
countries’ ability to deal with climate change impacts (Rogelj et al. 640). Although the US was
part of the agreement, the Donald Trump administration decided to part ways with it on the
grounds that it did not favour the country. The Paris Agreement is an essential agreement since it
shows that various countries with varying interests can join hands to deal with issues that affect
many people (Savaresi 17). If implemented by all signatories, the accord will be a game-changer
in matters climate.
It is critical to note that the UN cannot compel the US to rejoin the Paris Agreement.
Although the Paris Accord has a legal binding, signatories are allowed to quit after three years.
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In order to address this issue, the UN has to deal with it diplomatically. The international body
has to convince the conflicting parties on the need to sign the agreement. The UN has to stress on
the effects of climate change. Climate change affects every country by disrupting economies and
affecting lives (Karl and Trenberth 1721). Today, some of the effects of climate change include
changing weather patterns, rising sea levels, and severe weather events. It is worth noting that
greenhouse gas emissions caused by human activities causes climate change and it is likely to
cause more effects in future. Without proper interventions, the world’s temperature will exceed 3
degrees Celsius with some areas receiving more intense temperature. From statistics, the poorest
and most helpless people are the ones being affected much.
The UN has to bring the conflicting parties to a sitting table. While the Democratic Party
members support the Paris Accord, their Republican counterparts pour cold water on it as they
claim it does not favour the US. Since the UN is famous for calling for dialogue, it can organize
one for Biden and Trump’s teams. Through its representatives, the UN will hear from both sides
as they argue the reasons for and against the document. It would be important to address the
concerns of the Republicans since they believe that the accord will not benefit the country. The
UN needs to explain to the complaining voices on the need to adopt the agreement as it affects
many countries. As the world’s superpower, the US needs to lead by example. The country needs
to show that it is concerned with environmental matters and the need to contain global warming.
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Works Cited
Bello, Judith Hippler. “The WTO dispute settlement understanding: less is more.” American
Journal of International Law 90.3 (1996): 416-418.
Bussiere, Matthieu. “Balance of payment crises in emerging markets: how early were the ‘early’
warning signals?” Applied Economics 45.12 (2013): 1601-1623.
Gould, Erica R. “Money talks: Supplementary financiers and international monetary fund
conditionality.” International Organization (2003): 551-586.
Karl, Thomas R., and Kevin E. Trenberth. “Modern global climate change.” Science 302.5651
(2003): 1719-1723.
McCarty, John P. “Ecological consequences of recent climate change.” Conservation Biology
15.2 (2001): 320-331.
Rogelj, Joeri, et al. “Paris Agreement climate proposals need a boost to keep warming well
below 2 C.” Nature 534.7609 (2016): 631-639.
Savaresi, Annalisa. “The Paris Agreement: a new beginning?” Journal of Energy & Natural
Resources Law 34.1 (2016): 16-26.