- #36
Reshma
- 749
- 6
I think you are being unfair. One must give due credit to Japan for building up a very strong economy in a relatively short span of time (i.e. post World War II). Their current economic problems are mainly due to the fact that Japan is a small country and not very rich in natural resources compared to US and China. They have to heavily rely on imports for food, fuel etc.jbunniii said:When I was an undergraduate in the 1980s (in electrical engineering), I recall hearing repeatedly that my generation had better learn Japanese if we wanted to be able to compete in the "new" economy. That was not long before Japan's potemkin economy went bust, and it has stayed relatively bust ever since then.
Agreed, Indian economy is quite young. The economy opened up only in the late 90s, prior to that, India virtually had a socialist economy. We still have a long way to go to achieve any long term economic goals. It is just all countries need not ape the economic policies of US and it is not going to work.The U.S. and Europe have many economic shortcomings, but so do China and India. We have massive debt but also the best universities and many of the strongest businesses in the world; China has a big surplus but the vast majority of its population remains in the impoverished countryside, and it was an economic backwater just ten years ago and could well be again in another ten years, like many previous "tiger" economies.
There is no reason to be Xenophobic, given any frame of time, the average Indian or Chinese would be just be as worried about losing his/her job as an average American.None of this, of course, implies that the U.S. (or anyone else) will be able to retain a dominant position indefinitely into the future.