Monday :: Nov 16, 2009

Open Thread

by Mary

China rising. Having China's economy grow should be good, yet, when it comes home, as Krugman says, there are some things to worry about.

So picture this: month after month of headlines juxtaposing soaring U.S. trade deficits and Chinese trade surpluses with the suffering of unemployed American workers. If I were the Chinese government, I’d be really worried about that prospect.

Unfortunately, the Chinese don’t seem to get it: rather than face up to the need to change their currency policy, they’ve taken to lecturing the United States, telling us to raise interest rates and curb fiscal deficits — that is, to make our unemployment problem even worse.

One of the other things I'd worry about is from the NPR story:

"Why is America's economy so good?" he says. "The first is education. The world's best universities are in America."

The second advantage, Yi says: The U.S. has the best high-tech talent in the world.

Finally, Yi concludes, "you have a good political system: democracy" — one that Yi says allows the U.S. to solve problems quickly.

One could only wish that was true. But with our fiscal policies and priorities throwing out education with the bathwater, the exporting of high-tech jobs overseas and the watching sausage get made for "solving problems quickly" to provide healthcare for all, one has to wonder.

Mary :: 12:00 AM :: Comments (4) :: Digg It!