Emerging economies will be a challenge to US economic dominance in the years to come. Read this analysis and comment on what factors will lead to the new energizer bunnies of the capitalist world.
Monday, October 02, 2006
The New Titans
Emerging economies will be a challenge to US economic dominance in the years to come. Read this analysis and comment on what factors will lead to the new energizer bunnies of the capitalist world.
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2 comments:
I think the rise of economies of developing countries is a positive one. As these countries develop it opens up a whole new flow of consumers and producers. Also, as the people of developing countries become more educated not only will their utility increase but so will world health. This super rise of wealth and productivity may have some immediate downfalls for already developed countries as people suddenly have more competition, but thats creative destruction.
The recent economic boom in developing countries is good not just in the sense of consumers and producers, but also for the labor aspect. Because there are more countries developing, it is opening positions for jobs. One of the downfalls of this however is that because there is such an abundancy of jobs, the wages are being cut down. If these countries are going to continue to develop, they are going to need to find a way to "spread the benefits of globilization more fairly without reducing the size of thos gains."
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