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The article makes a comparative analysis based on weak points from each economy with respect to that of US, ignoring those countries in other aspects. For exam
by ordinaryman 18y ago
The article makes a comparative analysis based on weak points from each economy with respect to that of US, ignoring those countries in other aspects.
For example, India, one of the BRIC countries, does not get a mention though Brazil, Russia and China are mentioned.
Did some googling for Indian numbers..
> But here it helps that the ratio of government debt to GDP in the U.S. runs to about 62%. For the eurozone, it's 75%; for Japan, 180%.
India's debt is at 41.7% of GDP in FY08
http://www.financialexpress.com/news/Indias-debt-at-41.7-of-GDP-in-FY08/306114/ http://www.financialexpress.com/news/Indias-debt-at-41.7-of-...
(China, Brazil, Russia ignored)
> Last month's $700 billion bailout package seems staggeringly large, but it amounts to a little more than 5% of U.S. gross domestic product. Compare that to Germany's $400 billion to $536 billion rescue package (between 12% and 16% of its GDP), or Britain's $835 billion plan (30%).
India : No bailout.
(Japan, China, Brazil, Russia ignored)
> Before yesterday's surge, the Dow had dropped 25% in three months. But that only means it had outperformed nearly every single major foreign stock exchange, including Germany's XETRADAX (down 28%) China's Shanghai exchange (down 30%), Japan's NIKK225 (down 37%), Brazil's BOVESPA (down 41%) and Russia RTSI (down 61%). These contrasts are a useful demonstration that America's financial woes are nobody else's gain.
Indian BSE : 23.92% for the last 3 months.
(India ignored)
No. I am not suggesting that India is going to become a Superpower.
I just feel that that the article takes a weak path for comparison. It is like - "US is better than CountryA in this aspectA and CountryB in this aspectB and CountryC in aspectC and since no other country is better than US, US will remain a super power."