Here is an article on the economic future of India, China and the US. In my view, these few lines describe what is wrong with the China-US combine in the BEST possible way!
The role of the United States in the world economy is to buy, he said.
China had a problem in over investing, Prestowitz continued. For every dollar of GDP, China invests half, resulting in tremendous capital in manufacturing.
“If you set up a plant in China, the government gives you half the capital,” he pointed out. But the main buyer for the manufactured products, US, could not go on buying, he said.
The richer an economy gets the more is the tendency to believe that it is unbreakable. The curse of a winner is what is plaguing the US. which has made it the Buyer of the world!! How long is this sustainable is anybody’s guess!
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