The Age of America is Ending by 2016?
China will surpass the US as the world's largest economy soon -- sooner than most people expected, according to an IMF report.
Article posted by Kim Peterson on Mon, Apr 25, 2011 2:36 PM on Money MSN
The below coment was too the article and is posted at Money MSN.
Comment: Pray Hard
High real estate prices hurt the US economy more than anything else. The cost of housing, including rental cost, is too far out of line with incomes. Real Estate prices, particularly those in suburban communities have got to keep coming down until they are reasonable levels with middle class income! And yes, we've got to top using so much oil, find alternative source of energy (a bicycle for every member of the USA households) and bring health care cost back to reality, as well as the cost of education and every level. Having said this, we've also got to bring manufacturing back to the U.S. The Chair of Dow Chemical has said that the cost of manufacturing in the best country for overall manufacturing costs (Japan not China)) is just 17% (surprising but true) less than the U.S. We've got to bring manufacturing back to the US and buy American again. Manufacturing costs involve a lot more than labor costs. In Mr. Andrew Livaris's opinion, the world is moving into "the Golden Age of Manufacturing", and the USA needs to wake up and get ready to participate. China is not the only nation trying to move away from the dollar as the reserve currency. The European Union has had this as part of their plan for quite some time. Resentment against the USA is high all around the world and the nations see this as a good time to gang up on the USA and overcome us in the war of who controls the money. We need to get back to fighting the good fight of common sense and faith if we're going to remain on top. Who is it that once said, "a house divided against itself cannot stand"? (President Lincoln during the USA Civil War quoting from Jesus Christ in the New Testament)
Your comments are welcomed.