Deficits and the Chinese Challenge
Even though America’s increasing economic vulnerability to China is widely acknowledged, policymakers and experts continue to underestimate the full ramifications of this relationship, says Karabell.
Zachary Karabell
10/13/2009
The dollar’s sharp drop over the past few weeks has led to considerable anxiety about the status of the US as the dominant force in the global economy. Closely related to this fear is worry about the rise of China, which is the largest creditor to a heavily indebted US government. Noting that debt can become a real liability for a superpower, Karabell recalls what happened to postwar Britain. Having supported the British for decades and become its banker and manufacturer during two wars, the US fully supplanted the British Empire at the end of World War II. By 2030–if not sooner–China is likely to surpass the US in the size of its economy. Trajectories can change, but the recent implosion of the American financial system has only accelerated China’s rise. To assume we will always be the dominant nation on the world stage is a recipe for becoming Britain.
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Opinion summaries provided by Opinion Source, an organization with which Safe Democracy is associated
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Hotel in Munster
date: 04 | 04 | 2010
time: 11:27 pm
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myspace community
date: 01 | 08 | 2010
time: 3:28 am
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Solange Pomainville
date: 12 | 08 | 2010
time: 3:39 pm
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婚外情
date: 13 | 08 | 2010
time: 12:43 am
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