The U.S. faces unprecedented challenges to its economic, political, and military pre-eminence as it proceeds into the initial years of the 21st century. During the Cold War era, the superpowers viewed countries as either enemies or friends. The era of globalization, however, has transformed friends and enemies alike into competitors (Friedman, 2000). The U.S., the chess master of the Cold War era, has encountered great difficulty in adapting to the new geo-political and socio-economic realities brought about by the era of globalization. As this new era celebrated its coming out party in 1989 with the fall of the Berlin Wall, the U.S. has witnessed its own economic decline. In 1945, the U.S. accounted for over 70% of the World’s GDP. Today, that figure has shrunk to 19% (cited in Kedia, 2001).
Loughrin-Sacco, S. and Earwicker, D. (2003), "THINKING OUTSIDE THE BOX: STUDY ABROAD IN THE TARGET LANGUAGE AT BUSINESS SCHOOLS OVERSEAS", Tomas M. Hult, G. and Lashbrooke, E. (Ed.) Study Abroad (Advances in International Marketing, Vol. 13), Emerald Group Publishing Limited, Bingley, pp. 71-84. https://doi.org/10.1016/S1474-7979(02)13006-7Download as .RIS
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