Is US economy doomed - at the end of its streak?
Answer:
The US has a population of 300 million out of a world population of 6 billion, that is 5%. It is inevitable that as poverty stricken countries develop we will lose our economic dominants, so if that is what you mean, yes we are at the end of a streak. There is little reason to believe our standard of living will decline if we have reasonable economic policies and work to solve our energy problems. I don't think my well being depends on 10 people somewhere in the world living in poverty.
A large fraction of the people on this forum are young and as such they lack knowledge, but asking and answering questions, even dumb ones shows they are thinking, so knowledge will come.
Is the us economy doomed - at the end of it's streak?!? Have you not been watching financial shows on Fox News Channel? Experts are saying that the US economy is actually better then it EVER has been in the past. Next time do some research before asking a question with an incoherent paragraph that makes no sense after the question.
*EDIT* You are welcome to debate me on this subject via MSN Messenger (Windows Live Messenger in the USA where I live. Not sure if it is called that in other places, or if it is still called MSN Messenger.) My MSN is wolfbite110@hotmail.com.
We have been thru this many times. Other nations have boomed and caused US failure. China has been growing for some time, but she depends mostly on us. As she is also very aggressive, most of her trading partners are leery of trusting her or her money, as they are of any totalitarian state.
A secure America means a secure economy. A weak nation is protectionist (and China is very much protectionist). I feel we do need to clamp down on the trade imbalance, but it must be gradual or we'll do as was done in the Twenties. You know what came out of that.
The day is coming China cannot be a source of near-slave labor. If you'll look, you will find she is currently fighting revolutions across her territories. She, unlike the US, has few raw resources and very little in the way of fuel sources (oil, coal, wood, solar, dams, all due to a corrupt government and an unease earth :). No, the only way China can become a world trading power is to get a cheap source of fuel, and she is still trying to steal Vietnam's oil, as well as trying to take over Siberia. War is the only industry she can sustain for long.
China rejoice with the U.S. consumerism.
The U.S. economy is doing well, and China industrializing is good for the U.S. in the long run. Having a more sophisticated trading partner will only benefit us. Also, keep in mind that China is a developing nation, whereas the US is already "developed." So you have to be very careful making comparisons. The fact that China has cheap labor just means that they have a competitive advantage in manufacturing labor intensive goods (goods that require more labor than capital to produce). The U.S. on the other hand has more of a competitive advantage in capital intensive goods (the opposite of labor intensive goods). Usually the way it works is that innovation/invention and initial manufacturing takes place in the U.S (i.e. the television). As the product becomes more standard and easier to make we ship the manufacturing over to china. Keep in mind also, that as the chinese economy grows and their workers become more productive their wages will also increase.
This probably raises a lot more questions in your mind because it's a complex issue, so you may want to ask some follow-up questions.
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