Hello again, elmat...
I think that maybe you and I are on different pages of the same book, or else we are looking at different sides of the same coin... <g>
My point was simply that some nations are net consumers, and some nations are net producers. Without the consumers, the producers have no place to market their wares.
You are correct regarding the commodities economies versus the manufacturing economies versus the service economies. But no matter how the facts are presented, everything boils down to a simple demand/supply problem. Without demand, it matters little how efficient or productive the supply side of the equation may be.
In aggregate, the USA is simply the largest consumer of commodities, manufactured goods and services. Should the USA suddenly become net savers, say to pay off their large debts (the sneeze), the economies of our trading partners suffer from lack of sales (the pneumonia).
Can this equation be changed over time, perhaps to something strongly resembling what you envision? Sure it can. But the key words are "over time". Change will not happen today, tomorrow, next week, next month, next year or even 10 years from now. Real change takes place over generations of people. It is not likely that you or I will live long enough to witness the true changes.
For our time here on this planet, the USA is the dominant spending force. A thousand years ago, it was the Roman Empire. And before that, the Greeks were on top, preceded by the Egyptians. No one society has ever dominated world trade forever. Things change and sh!t happens. I have no doubt that someday Brazil or Argentina will become one of the world's leading economies. All I am saying is that that day is not likely to be tomorrow...
KJC
PS - Your daughter will likely know a better world than you and I have come to know. Likewise, and hopefully, her own children will also know a better world than she knew! |
