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Wednesday, November 30, 2011
What Each Country is Presently Best at- India, China, and US
What do you guys think: Is this true or an exaggeration?
It's an over generalization but there is some truth about that. The United States has lost its identity when it comes manufacturing and technology. It still has a strong grasp in the financial sector especially here in NYC. However that may change sometime in the future also .
Obviously some hyperbole, but it's a pretty accurate description of what is happening. This is one of the mains reasons why I decided to write my paper on education and globalization. The BRIC economies are exploding right now, while the United States is stuck in reverse. Thanks for sharing!
The US is still growing, but at a very slow rate. Many Americans do over extend themselves, debt to many people just seems like the only way to get things done. No one plans out their finances properly and that is the problem. I don't however think every American is on their third mortgage. After 08 it became harder to take a loan out and now you need about 40% of the loan upfront for property these days when before I believe it was close to 10? I could be wrong but there has definitely been changes to make it harder for people to take out loans these days.
It's an over generalization but there is some truth about that. The United States has lost its identity when it comes manufacturing and technology. It still has a strong grasp in the financial sector especially here in NYC. However that may change sometime in the future also .
ReplyDeleteI agree. Its just seems like a over dramatization of the truth and some of the stereotypical roles that we assume these countries to hold.
ReplyDeleteObviously some hyperbole, but it's a pretty accurate description of what is happening. This is one of the mains reasons why I decided to write my paper on education and globalization. The BRIC economies are exploding right now, while the United States is stuck in reverse. Thanks for sharing!
ReplyDeleteThe US is still growing, but at a very slow rate. Many Americans do over extend themselves, debt to many people just seems like the only way to get things done. No one plans out their finances properly and that is the problem. I don't however think every American is on their third mortgage. After 08 it became harder to take a loan out and now you need about 40% of the loan upfront for property these days when before I believe it was close to 10? I could be wrong but there has definitely been changes to make it harder for people to take out loans these days.
ReplyDeleteNo you are right Michael, there have been greater restrictions on banks to give out loans to people.
ReplyDelete