Cheer Up  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 406 no. 8827 (Mar. 2013), page SS3-SS4.
Topik: Geographic Profiles; Politics; Problems; Economic Conditions; Budget Deficits; Reforms

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.76 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Barack Obama often gives warning that China and other developing countries are beating America in the race for "the jobs of the future". The belief that America is losing its economic edge is pervasive. Americans are more pessimistic about their country's prospects than at any point since Gallup, a polling firm, first started asking them in 1959. he grandees of Washington, DC, share their concern. The World Economic Forum, which draws up international rankings on competitiveness, considers the United States only the world's seventh-fittest economy, a big slide from first place just four years ago. Growth is sluggish, unemployment is high and investors are wary. America's public debt is approaching $17 trillion, more than 100% of GDP, and it has been growing fast. The combination of dysfunctional politics and empty coffers, in turn, is preventing Congress from dealing with the economy's other obvious shortcomings. On every count, despite glaring problems, the outlook is less bleak than the pessimists maintain. That is partly because they overstate their case. For instance, rumours of the death of American innovation are exaggerated: the country is spending as much of its output on R&D as it ever has, and continues to come up with dramatic breakthroughs. At the regional and local level America is already reforming and innovating vigorously. Those who like to lecture smugly about America's impending decline should take a closer look.

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