Posted on 11/16/2009 12:54:38 PM PST by Mr. Jeeves
The average American pays little attention to news from Asia. American culture is insular, sparing little attention to developments in other countries. The nation’s focus is on the wars in the Middle East and the expansion of domestic welfare programs – an expansion demanded by handout-seeking voters who may now be starting to understand the downside of getting what they wanted.
The US media traditionally spends little attention on economic news from the rest of the world, and even President Obama’s current trip to Asia has not generated much coverage of the back story behind his visit – the fact that the US and Chinese economies are now inextricably intertwined. Neither nation can make grand economic decisions independently. America may have to a certain degree surrendered its economic sovereignty to the Chinese government, but China finds itself equally constrained – if their largest debtor decides to default, Chinese economic expansion could be in very big trouble.
Asia’s rise got America’s attention back in the 1970’s and 1980’s, when anti-Japanese sentiment was rampant in Detroit and the Rust Belt and fears of Japan rising to achieve economically what they had failed to accomplish on the battlefields of the Pacific a generation earlier seemed justified. Until the overheated Japanese economy collapsed in 1989, beginning a twenty year period of economic stagnation that has left the Nikkei to this day well off its all-time highs.
(Excerpt) Read more at asialynx.com ...
>>We aren’t watching Asia and why they are succeeding <<
You mean like Japan? Also, I understand shipping prices are still quite low. China still needs to sell their stuff. And they can “hide” the problem only so long, just like the US.
The U.S. tends to excel when it needs to play catch up. Maybe having Asia out in front of us is not a bad thing.
The only upside I see is that my grandkids may live under Chinese hegemony rather than Muslim.
And that’s making the best of a bad situation.
The Asian domination of the US will occur covertly, beginning in the nail salons!
And that's not so bad.
One of my jobs is to assist, gently, their ambition to be real Americans!
I do a good job too.
All we have to do is get the hell out of the WTO and slash our taxes and let her ride.
The Asian domination of the US will occur covertly, beginning in the nail salons!
Right now I’m laughing like a mental patient
“it’s a good one”
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