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What makes American economy great?

Discussion in 'BBS Hangout: Debate & Discussion' started by pirc1, Feb 28, 2005.

  1. Sishir Chang

    Sishir Chang Member

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    The big question in my mind is whether we will continue to be a great economy. After spending some time in Asia I think there are certainly warning signs ahead. As many have pointed out there won't be a sudden mass sell off of dollars or calling in our debt as that would cripple other countries' economies but what could happen is that they will lose interest in continuing to fund our debt. Once that happens we'll enter a massive credit crunch that will greatly harm our economy.

    Also many other countries and organizations are openly talking about moving away from dollar reserves as the Euro strengthens. This isn't something that will happen anytime soon but the fact that this is even being discussed spell problems.

    In response to FD Khan we have built up a huge service sector but we aren't without competitors there. Other countries are rapidly working to catch up to us in the service sectors too and as we see with back office outsourcing once India can deliver the same level of service at a cheaper price there's no longer a reason to deal with us.

    Also we still have a huge market share and many countries want to do business with us because of market share but again there how long are countries going to do keep on doing business with us when all we can offer them is more debt. As the economies of the PRC, India and Europe continue to develop they might find it more profitable to sell to each other for cash than continue to rely on the US for debt.
     
  2. wizardball

    wizardball Member

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    foreign policy!!!!:D
     
  3. pirc1

    pirc1 Member

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    And Education policy and Monetary policy to just name a few.;)
     

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