--- On Tue, 3/24/09, Mervyn Lobo <[email protected]> wrote:
> The US is still the most dynamic economy in the world, given that it is still > the most free market economy. The above statement only works when you provide the numbers. For example, the numbers that compares the dynamics of the economy of China v/s that of the USSA. With out the numbers, your contention is pure sentiment. ---- Two points: 1) A nation's long term standard of living is determined by technological innovation. Around 70% of the world's venture funding still goes to the US. In the two emerging fields of clean energy and bio tech, I expect an onslaught of innovation to be unleashed in the US in the next few years. 2) The Communist party of China cannot be considered to be a reliable source of statistics. Its over reliance on exports (specially to the US), its now imploding real estate bubble, its party controlled banking sector as well as its obvious political risks suggest to me that China has even worse problems ahead. All nations have their problems - the difference is that the US being an active democracy means that its problems are more easily identifiable and addressed.
