Our President is right now visiting China. It is his first tour to that country to see first hand what the fuss is all about this “New China”. He gave a speech regarding the uncensored flow of information is necessary for a healthy society (something to that effect). But what he did not do explicitly was to talk about human rights, releasing of dissidents and other democratic rights that America Stands for. Because he may have known his limitations that America is not the same as it used to be ten years ago.
It is really a shame that America is not that strong as it used to be (some may have argue with that statement). But whatever we may say, this Great Recession has exposed us to many dangers. We have been pushing stimulus after stimulus without any money to pay for it and then hoping that whatever IOUs (treasury bonds, bills, notes) we issue the rest of the world will keep on buying.
Due to its unique strength being the sole superpower of the world, open economy, political stability and issuer of the No.1 reserve currency in the world, America can escape the scrutiny that other less advance nations can incur, but slowly and steadily this characteristics of the uniqueness of the American System will start to unravel. I don’t mean to say that all the above things will happen at once or all the things will even occur. I mean to say that when other countries start to develop much faster than America and have a less of a burden of a superpower, then things start to change.
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