Striking a balance: Presidential power and the National Economic Council in the post-Cold War

President Clinton's creation of the National Economic Council in 1993 represents a political response to the rise of so-called inter-mestic issues in the post-cold war world. The NEC was designed to coordinate and manage the policymaking process and integrate the foreign and domestic components of economic issues. However, since the Vietnam War, the global environment, congressional resurgence, and an increase in interest group activity in the realm of economics have combined to frustrate and constrain the president. Further complicating this for the post-cold war president is the highly dynamic relationship among security and economics and the growing impact of the global economy on domestic economic stability and prosperity.; Using a comparative case study approach organized around each of the three National Economic Advisers (NEA) from 1993 to 2000, the author demonstrates that in order to fully understand foreign economic policymaking in the post-cold war, we need to examine how the president and NEC formulate economic policy, coordinate and manage the policymaking process, and how political dynamics impact key issues. A total of six cases are examined, including NAFTA, the US-Japan Economic Framework, the Mexican Peso Crisis, US Foreign Policy toward China in 1996, the Global Financial Contagion, and extending PNTR and WTO Accession to China in 1999–2000. The study uses a multi-methodological approach incorporating secondary sources, elite interviews, and other primary materials, such as congressional testimony and speeches. The author claims our understanding of post-cold war economic policymaking can be strengthened with a framework of high and low policy. The study seeks to make a contribution to our understanding of American politics, especially the presidency and presidential power, Congress, and US foreign policy. The intended audience includes academics and policymakers.