September 5, 2008
Written by C.N.
For some time now, I’ve written about how, on the international stage, countries such as China and India are emerging as economic, political, and cultural superpowers in the 21st century and domestically, how American society is becoming more and more diverse and globalized as a result. So what does the future hold for the U.S. as these trends become more institutionalized?
That’s the question that CBS News asks in a very interesting article entitled “Coming Soon: A Post-American World:
With The Rise Of China And Other Economies, The ‘Golden Age’ Of American Influence May Be Coming To An End.” Some excerpts:
“We can model the economy and show that by 2035, it will be as big, if not bigger than the United States’ economy will be at that time, and by the middle of the century it will be twice the size of the U.S. economy at that time,” [China expert Albert] Keidel said. . . .
In case you missed that – within the next 50 years China’s economy will double the size of the United States’ economy. Fareed Zakaria, editor of Newsweek International, said, “What’s happening right now is, the world is moving beyond America. The future is, in many ways, being shaped in distant places by foreign people.” . . .
“That’s a big shift from a world in which America was at the center economically, financially, culturally, militarily, politically, to a world in which there are more centers and many forces, from India to China to Brazil to South Africa that have to be taken into account,” Zakaria said. . . .
“This is not happening because America is failing or declining,” Zakaria said. “It’s happening because the rest are rising, and it’s happening because the natives have gotten good at capitalism.”
The article goes on to discuss what the U.S. can do to retain its economic and political superiority in the face of these momentous changes:
[Alan Wolff, former U.S. trade negotiator:] “We need to change our tax policies, change our immigration policy. We made the U.S. a magnet, an attractive place for the best and the brightest in the world, and we frustrate that by saying, ‘You get a Ph.D. here and that doesn’t matter. Right now, we’re throwing you out.’ That’s very self-destructive behavior.”
“We save too little, we consume too much, we borrow too much from the rest of the world, we use energy in a profligate and wasteful fashion,” said Zakaria.
So is the decline of the American economic empire inevitable? That’s a very complicated question and one that I will continue to explore in this blog, but for now, I would love to hear from you, my readers, on what you think the future holds for the U.S. in terms of keeping its status as the most powerful nation in the world.
Feel free to add your comments and let me know what you think.