The Global Order Fractures As American Power Declines -- Financial TimesHarold Macmillan, the prime minister who watched US power rise as the British empire crumbled, used to say that Britain would play ancient Greece to America’s Rome.
These days it looks as if Rome is declining too. The US finds it increasingly hard to drive forward its vision of international trade and economics over the objections of big emerging-market countries.
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My Comment: It is very hard to promote an international view of trade and economics when your own economy is in the toilet. In my travels abroad I have lost count on the derision and contempt that many foreigners now tell me when they talk about President Obama and his economic policies .... with such a sentiment it should not be a surprise to then see how weak the U.S. is when it tries to influence world policy forums on trade, currency value, and economics.
The global order as we know it is fracturing, and as long as the U.S. continues with the 'insane' economic policies of heavy debt and no fiscal discipline .... this decline will only quicken.
2 comments:
Silly to blame Obama for what has been happening now for years. The economics of the world began to change with massive globalization, and the economic bubble began under the previous president, here and abroad. Do you seriously think that returning to the so-called free market, sans regulations, will restore the US to the position it once held?
I am just saying what other people who I know abroad are saying. As to what is my take .... I have been around for a while (50+ years), and to me America's decline started in the 1990s. By getting its fiscal in order, America can easily reverse what has been a horrible trend of decline, but I have no confidence in today's batch of politicians starting with the top.
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