Why the USA is now in second place!
The United States of America has been feeling the heat from our Asian rivals for the past two decades. Almost every single product we’ve succesfully produced throughout history has been stolen, mimicked, or overrun by the strong labor market of China.
Some sectors of the US economy have been experiencing more pressure than others such as the manufacturing and agricultural industries leaving rural areas and even some of the biggest metropolitan areas in terrible economic situations.
Other than our own economy, China has managed to lower our profits from overseas investments such as financial institutions with Chinese banks appearing more and more in developing and industrialized nations. With this power, China begins to be the debt collector of every other nation and is setting itself up as THE World Power, a title that we have held for the past two centuries.
My thoughts are that the United States should start reinvesting in our own infrastructure and try to bring metropolitan areas more connected with the outer suburb areas. One great example is improving our highways and rail systems which are extremely outdated.
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Photo credits: The Guardian
Very interesting post, I may reblog. Thanks!
Thank you for your interest!
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