50 years ago, USA was a great country then, while China was a poverty-stricken backwater, even touted as having people only fit to be chefs and laundrymen.
50 years later, the Wheel of Fortune has turned, and it is becoming the other way round with China eradicating poverty en masse, while homelessness and infrastructure decay is apparent in the USA from end to end.
The USA is trying to musk the differences by touting about its GDP growing so fast and furious over the last couple of years, putting China in the dust, which boggles the mind. How could a country growing at just around 2.5% be adding several trillion to its GDP figures over such a short period of time? The answer lies in its overcapacity in printing money propping up Wall Street companies and benefitting the super-rich.
Just imagine Nvidia, a USA tech company valued at US$3.3 trillion sometime in June, more valuable than the whole GDP of ASEAN countries combined, with hundreds of millions working their butts off. Or about the GDP of India, a country of 1.4 billion population. Or more valuable than many of the countries in the G7. Possible or fantasy?
Anonymous
2 comments:
The USA and the West always assumed that progress and prosperity is their prerogative as in the past and non-Whites have no part in it. It is a mistaken belief. Let them continue to rest on their laurels and massaging their own ego with denials while the rest of the world moves on.
As the saying goes - Pride comes before a fall. And the fall is getting apparent, with Europe having a taste of what failure looks like by entangling with Russia. Now, who is helping them? Not the USA, which is benefiting from the misery of the EU. Trump is even threatening the Europeans with more tariffs if they do not buy more USA oil and gas. Just imagine facing such a threat from the USA after sacrificing so much for the USA in Ukraine.
Whose interest are the EU leaders working for? It looks like everything is for the USA and EU citizens are just sacrificial lambs for the slaughter. Even the Africans are wising up, but the Europeans are becoming dumb and dumber by the day. Talk about having the best universities and education in the West.
I thought homelessness was and is the social affliction peculiar to the USA, but many European countries are also suffering the same misfortune. How the mighty have fallen. Perhaps they are going to spin homelessness as a 'lifestyle choice'. I rest my case!
Now both parties, Democrats and Republicans are putting on another show to extend the debt ceiling. What is the problem when it always gets extended after some horse trading. This will be the case every time they need more money and will never have an ending. Just enjoy the show while it lasts.
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