Everyone knows that US is facing with recession lately. Nevertheless, Daniel Gross’s article recently published in the Newsweek on why America will stay top has outlined few reasons: (a) US has restructure its economy which among other things focus on efficiency and creating new business opportunities for smart companies (b) traditionally US is a nation for inventors and US has shown an ability to bring new ideas to global scale in short period of time. There are example of companies like Apple Inc which came out with new products to help recover the market.
The point that Daniel failed to mention is how can US help other countries to recover from economic recession as many Third World economies depend on US as trading partners. On the same note, we would like to know the extend to which the role of manipulators and currency traders play on the currency trading that lead to the global recession and how the system have been checked to put them under control.
We would like to know the shape of things to come. Not just to the US but to the world at large. As a trading nation we will be affected if the exchange rate fluctuate. As parents who have children studying overseas, and pay study fees in US dollars, we will be affected too.
To my mind, there is no easy answer and we have to keep our fingers crossed.