Although the US has not fallen behind, progress has slowed due in part to our debt and cuts in education. If all the Countries make it into the "healthy, wealthy corner" resources will eventually run low and this will lead to problems.
China and Europe do not show that they will continue the same growth as they did from 1980 to 2010 continuing onto 2040 as predicted in the video. Shown in latest article posted on Business Week, Face It: 2013 Is Gonna Be a Bummer, China and Europe are already facing problems by facing their slowest growth period since 2009.
They make the point that the US is not falling behind rather the rest of the world is catching up. I completely agree with the first comment that if the majority of the world finds their way to the "healthy, wealthy corner" that could very possible cause an even bigger economic crises.
I also agree with the first comment. There is no way that everyone can be in the "wealthy corner" without running into difficulties. It is already not working well right now. And I agree with the third comment as well: It would cause an enormous crises! It definitely was an interesting presentation of the economical situation, tho.
I feel that like the presentation stated, the U.S. will not continue to grow like it did in the 1950's and this will happen to China and Europe the same. They have made huge economic strides but both will slow down, especially China, and the status quot will even back out. I believe the U.S. is slowing down very noticeably but only because we had such a big leap before everyone else.
This is very interesting, I never realized how we got "ahead" of the world. It is hard to believe that China and India are catching up and that their economic growth is growing so quickly. However, Hans said that that kind of growth doesn't last forever and I read in another article that India's economy is starting to crash due to various government problems. I don't agree with Hans that everyone can live in the "healthy, wealthy corner" I believe that for the US to prosper we need to continue being the front runner economically and we don't need to let the rest of the world catch up.
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