America must live within its means

Independent [UK]
by Hamish McRae

10/22/08

On present trends China will take over from the US as the world’s largest economy in about 20 years’ time. Of course that is not certain but if the Goldman Sachs economic growth model continues to reflect correctly the way the BRICs (Brazil, Russia, India and China) are gaining growth vis-à-vis the present developed nations, something like that will happen. That raises a stark question for the US: is it really wise to be so in hock to your greatest commercial rival, the only country that has threatened your economic supremacy for more than a century?

//www.independent.co.uk/opinion/commentators/hamish-mcrae/hamish-mcrae-america-must-live-within-its-means-968552.html


Informant: Thomas L. Knapp



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