Summary of “Is the U.S. Still Relevant?”

By Aseem Prakash

http://www.businessweek.com/globalbiz/content/aug2009/gb20090819_851022.htm

According to Aseem Prakash's article "Is the U.S. Still Relevant?" in the Bloomberg business week (August 19th, 2009), due to the difficult economic situation in the U.S. people around the world wonder if the U.S. is still relevant in leading the economy and technology of the world.
In the past America was the place leading all technological developments, innovations and controlling the capital of the world. America dictated the business culture of the world and everyone was looking at America as the growing engine of economy and prosperity. In all business and management books the American big companies were the models of how to run business and succeed.
In the last years we saw the Easter economies growing fast due to the cheap labor and migration of business outsourcing production and services from these countries. America importing cheap products that replaced own American production was one of the reasons for the recession. Many people lost their jobs because of that.
With the years the Eastern countries started developing technology in the Auto, Aviation, computers and green technologies. They have car industries and financial centers competing with Wall Street. These countries stopped looking at America as their target markets and dream and are now focused on selling and developing the markets in their own countries. As America is in a bad economic situation people started asking if this is the beginning of the end of America being the world leader?
The Eastern countries were beat by the global recession too. President Barack Obama declares that they should not depend on the U.S. consumers as a driving force for their economic recovery. The Americans are angry and understand that they need to create back the jobs for the people, stoop the outsourcing of services from Eastern countries, bringing down the imports and limit the H1 visa imported labor.
In order to stimulate the economy President Obama encourages the American companies and people to use locally produced product. Buying American-made iron, steel, and other manufactured products is one of the conditions of the US government stimulation program.
Aseem Prakash's says that this is not the end of America being the economy leader of the world, not only because of its' size but because of the characteristics and the culture of the America people. The Americans are creative, innovative, well educated, hard workers and committed to success. America will recover and continue to dominate and lead the world.



Response

I think that Assem Praksh explains well why America will continue to lead the world in technologies and innovations and to dominate the economy of the world. American has the best scientists, schools and professional people in the world. They are creative, hard workers and committed. I believe that the steps taken by the Government will bring the economic recovery and America will stay the leader of the world.