Ireland built to last

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These are challenging times for the global economy. The first half of the 20th century included two world wars and a Great Depression — yet this period of tumult was followed by a golden era of growth from to The s was marred by economic stagnation and high inflation but yielded to a new and prosperous era of globalization. The first two decades of the new millennium brought the collapse of global stock market bubble, the rise of global terrorism, and a global financial crisis.

Each of these historic crises were ultimately succeed by an economic revival.

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In a similar vein, and notwithstanding a world of constant change, the post-war partnership of Ireland and the United States has not just survived numerous challenges over the decades but also thrived thanks to years of mutual benefit and cooperation. Anything built to last has to survive the test of time, and Irish-US relations have done just that over the past sixty years.

The Protomen - Built To Last

The bonds that bind Ireland and the United States are among the strongest in the world. Bi-lateral ties are robust and resilient, and are only expected to become thicker and stronger over the next decade.

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New technologies helped shrink the world and by the first decade of the 20th century, such familiar corporate names as Eastman Kodak and Coca-Cola had already established overseas beachhe. Its plant was the first purpose-built Ford factory in the Old World.

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However, the Great Depression, which triggered a global wave of depressed earnings and forced liquidations, triggered another global downturn in FDI, as did World War II. The foreign investment of Corporate America, in other words, was more regionalized, focused on the western hemisphere. Over this same period, US investment in Ireland was negligible and for good reason.

For most of the s, Ireland was closed for business, with high tariffs on trade and restrictions on foreign investment keeping US firms at bay. The nation was also amongst the poorest in Europe and hardly, therefore, on the screens of US firms.

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Inhowever, the nation repealed the Control of Manufacturing Act, which prohibited foreign ownership of Irish industry. In the same year, Ireland ed the International Monetary Fund and the World Bank, the multi-lateral building blocks of the post-war, US-led global economy. And in subsequent years, the government cut tariffs on trade, negotiated a free trade agreement with the United Kingdom and ed the General Agreement on Tariffs and Trade in Economic Report.

Mar 11 Written By Tanja Bueck. History shows, however, that periods of societal, economic, geopolitical and financial upheaval eventually give way to new patterns of activity, new drivers of growth and innovation, and new levels of support and cooperation among nations.

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Understanding how US firms compete in the Global Economy. Tanja Bueck.

Built to Last
Ireland built to last

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Take two Georgians – the replica mansions in Kildare and Wicklow that are built to last