Thank you for the green. Africa would suffer less than Europe if the US economy were to collapse. The US is by far the largest importing country in the world, and Africa sure isn't the one exporting everything to the US. A depression in the US would cause its closely tied economy, Japan, to fall into a depression. When two of the most powerful economies in the world are in a depression, you are going to feel the impact no matter where you are.
Honestly, what's the point of posting a link to a wikipedia article without making a point? What do you want me to look at?
Look where from is US importing and where are they exporting. You will see tha the rest of the world would do just fine even if US goes down....even Africa will survive I don't get where some americans get the idea that all will stop if US economy goes down. The world is big and for the "ordinary" people it will be business as usual. Of course bankirs and for all those who really do not work anything but just move numbers around it will be hard and tough. All the rest will be just fine...
It's not that simple. Using your table as an example, take the top 5 countries that the US imports from. Now consider the ripple effect. International trade is not the only factor that would affect Europe. Investment is another factor that you should at least consider. It's funny how you say "even Africa." A basic understanding of economics should tell you that Africa wouldn't be the one felling the great impact.
good point iatbm So its Canada, Mexico, Japan and somewhere UK with Germany in the end there, 2 of these are on the same land as US. No doubts there will be an impact, but I cant think of anything I consume from US, except coke maybe But even coke is made in Russia with lisensed factories, etc. Lets just say for some people it will be damn bad life, and for some - not a big difference. Ahhh, just came to my mind, Ive got an Intel processor)) But not sure where was it made, probably in Asia somewhere.
Anyone old enough to remember the 80's and the national debt ticker they put up? The Reagan bashing that went on for years, and all the talk about the debt? It carried on well into Clinton's presidency where we all used to hear: "12 years of Reagan/BUSH..." yada, yada, yada..... I think moonbatism runs in 20 year cycles, much like fashion. I think one of the coolest thing I have ever seen is watching the national debt ticker increment, then the Goverment had to shut down for a time because they could not get a budget in place to appropriate funds to keep running.. That clock came to a complete halt... I think Congress does more good when they shut down...
I have to tell you, I just read an article today written by Economist Paul Craig Roberts, and I don't know if I agree with this 100%. The Europeans export a lot of goods to the United States, which we pay for in European currencies. Americans are consumers, we consumer a considerable percentage of the world's goods. If the U.S. dollar tanks, Americans will not be able to afford to purchase European goods, and this will cause a domino effect which would eventually cause both the Euro and Pound to go down with the dollar. If Americans stop buying European exports because the dollar is so low in comparison to the Euro and Pound, you're looking at a potential global recession that will hurt people on both sides of the Atlantic. Sorry Iatbm, but unfortunately, we live in a world where all our economies are interconnected. This is why I hate globalization. It shouldn't be like this, but this is what the Globalists want.
Of course we will feel some short downtime but really EU economy does not depend on US anymore as it used to be 30 years ago. New markets are opening and it will be no problem exporting somewhere else. Also european market is so strong by itself that only crisis(political) within EU can shut it down. What bothers me is the ignorance from some members that think all will break down if us economy goes down
You're right about one thing, American is just about finished. China is rising, and if they team up with Japan, you will see the greatest economic power house in history, and only the EU will be able to counter that, not the United States. Europe won't completely collapse, but they will feel the heat. It is true that new markets are opening all over the world. What bothers me about the EU is that all the European countries within it are losing their national identity.
That and also they they have McDonals in the middle of freaking Paris, Rome, Vienna and any other major European city for that matter.
Hmm, how long it's been since dollar is getting weaker and weaker ? I think one year or even 2-3 now. Can you see any difference in euro economy? I can't. What you say may happen at ridiculous rate of $10 = 1 euro for example. That wont happen anytime soon. By the way, in Russia it was a record low rate this week, they compared it to 1999 year rate. It's a shame, get Bush out of da house