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> I frequently see people from the US claim that the world improvements will end, because the US is getting worse... But the good news is, the world is in fact
by TheAdamAndChe 9y ago
> I frequently see people from the US claim that the world improvements will end, because the US is getting worse... But the good news is, the world is in fact getting better, even though the US might not be improving a lot currently.
> If I understand your message correct, you're saying that if for example housing costs in the US doesn't improve, global growth and improvement might slow down?
I believe that if the US doesn't improve, global growth would slow, yes. In the US, our "economy" is growing because globalization has lowered operating costs while spreading wealth to poorer nations. This is the absolutely largest reason that global poverty has declined. However, because the US has such a high quality of life, our lower class cannot compete.
I believe that if this trend continues, the US will reach a tipping point where people revolt. Because the US is the largest economy in the world, globalization would slow down or reverse for a bit, reversing the positive global trend.
I'm not saying that the world wouldn't adapt and overcome. The world doesn't need the US in the long-term. But it would be rough for a while.
If you disagree, I would love to know why.
- tonyedgecombe 9y agoI suppose the ultimate conclusion of globalisation is a levelling out of living standards around the world. Whether this means Western nations becoming less well off is an interesting question. I'm not sure the US is as important as you think now, there is an inertia in developing nations that might slow but is probably quite hard to stop.