Monday, 28 February 2011
America is no longer a superpower. It is just a biggest power. Its economy already reached at peak many years before. Now chances of high GDP growth are very less.
On the other hand, China is rising as an economic power. Its GDP is growing at very high rate. In future China can overtook America as biggest power. America should learn from Europe. Due to huge availability of natural recourses, American forgot the cost of resources. They forgot saving. Americans already drilled much of their oil. Oil is going to be finished in some years. Europe is taking care of future but America closed his eyes.
France is an example who makes electricity from nuclear energy . Who are dependence on oil, would pay its cost on future. America must think about renewable energy.
There is no option. Regulations on financial institutes and banks are also weak compare to Europe. Population growth is still projected. America must think about future to make it friendly.