Does America Remain The Economic God In Future?
Economy | September 12, 2009 at 4:12 amTill now America’s the economic destination of individuals from all over the world. America, the sole superpower with one of the most flourishing economies of the world, was aptly labeled as the land of opportunities by many. Not only the American nationals but immigrants from the rest of the world have utilized the economic resources of America to climb up the ladder of success. Education and employment in America has been the dream of many. But the recession seems to have changed the dynamics of this unique position occupied by America in the global economy. There’s a fall in its economic stature and the world seems to be shifting its focus to newer pastures. Is it time for us to now think that America’s going to lose its status as an economic God in the future?
Well, at present many people might feel that since recession has handicapped America, the Asian countries especially China are the future economic hopes of the world. In the reincarnated economy, China seems to stand a good chance of becoming an economic superpower. China seems to be recovering very well from the late crisis and investors might find some greener pastures there. But what has to be remembered is that China having a conservative society, the extent to which foreign investors will be encouraged is a question of debate. You don’t stand a good chance to survive in a non-supportive environment. You cannot expect as much encouragement and support for your ventures as America could have given you.
Apart from investment opportunities, the coming inflation is another reason you might think of shifting focus to other lands. Such a lot of stimulus spending is planned for the coming times and its sure going to evoke inflation as such a lot 
of currency has been printed and it has to go into circulation during the recovery period. This seems quite probable but on the other end there’s news that this recession has annihilated about 40 % of the world’s wealth and the major part of it was from America. So this again might make you drift away from the already economically injured America.
Due to the slackened American economy, Asian countries like China are asking for changing the reserve currency from the American dollar. Though the Central Banks of different countries have the freedom to store their money in their desired denominations, the dollar is not going to be replaced any soon. The dollar has acquired the status of an international currency and most of the fiscal exchanges in the world are taking place via the dollar. Besides America’s finances and economic system is undoubtedly the most open in the world.
All these factors might make you believe that America’s not going to hold the reins of the world anymore, but still you 
can be hopeful that things won’t change. Most Americans have not yet lost faith that America will regain its superpower status soon and will be prosperous ever again.
“I’m pleased with the progress we’ve made, but I’m not satisfied. I’m confident in the future, but I’m not content with the present. The hundredth day might be a good time to reflect on where we are, but it’s more important to where we’re going that we focus on the future” – Barack Obama expresses views about his 100th day as President of United States.
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