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This page contains all of the posts and discussion on MemeStreams referencing the following web page: The good news about the recession. You can find discussions on MemeStreams as you surf the web, even if you aren't a MemeStreams member, using the Threads Bookmarklet.

The good news about the recession
by possibly noteworthy at 7:40 am EST, Jan 18, 2008

The world is running away from us. The volume of global trade in merchandise has been increasing rapidly. And it's not just the United States importing goods from China. It's China importing natural resources from everywhere and building infrastructure in sub-Saharan Africa, sub-Saharan Africa buying oil from the Persian Gulf, Dubai investors purchasing Indian real estate, Indian builders buying German engineering products and services, and German engineers buying toys made in China. With each passing day, an increasing number of transactions in the global marketplace do not involve the United States. We're still a powerful engine. But the world's economy now has a set of auxiliary motors.

The characterization of Americans as nativists incapable of dealing with foreigners is a caricature. But compared with the growing ranks of sophisticated, well-capitalized competitors in Europe, Asia, and Latin America, many American companies simply haven't committed to being aggressive players in the global economy. Which is why this odd recession could function as a wake-up call for Americans to get passports, buy some Berlitz tapes, and start thinking of foreign markets not simply as a place to source cheap goods or raise expensive capital, but as the new home market.


 
 
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