thanks to girish. good stuff about america on a downswing. people really should factor this into their work and retirement plans. on average, you are going to be better off elsewhere rather than the US over time. i say this with sorrow, because i like the US. i certainly am not happy about china becoming an alternative superpower because it is a negative, imperalistic nation.
it's like the old paradigm of the full moon vs. the new moon. the full moon (america) is waning, whereas the new moon (india etc.) are waxing.
it is a fact that american power was at its peak in the 70s. coincidence, maybe, but the defeat in vietnam marked the beginning of the end of economic superiority as well.
---------- Forwarded message ----------
From: Girish K <g>
Date: Oct 28, 2006 3:41 AM
Subject: A Superpower in Decline
To: om
SPIEGEL ONLINE - October 24, 2006, 03:49 PM
URL: http://www.spiegel.de/international/0,1518,439766,00.html
URL: http://www.spiegel.de/international/0,1518,439766,00.html
A SUPERPOWER IN DECLINE
America's Middle Class Has Become Globalization's Loser
America's Middle Class Has Become Globalization's Loser
By Gabor Steingart
At the beginning of the 21st century, the United States is still a superpower. But it's a superpower facing competition from beyond its borders as well as internal difficulties. Its lower and middle classes are turning out to be the losers of globalization.
Editor's Note: The following essay has been excerpted from the German best-seller "World War for Wealth: The Global Grab for Power and Prosperity" by SPIEGEL editor Gabor Steingart. SPIEGEL ONLINE is publishing a series of daily excerpts from the book.
There are essentially three exclusive characteristics whose simultaneous development have served as the foundations of the United States's success up until now -- and they only appear in this particular combination in America. They are not only the country's biggest strengths, but also its greatest weaknesses. It's worth scrutinizing them more closely.
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