I believe that the United States will decline in economic importance as China, India, Brazil and other countries will rise in power and influence politically and economically in the twenty first century. As the other countries are rising, we are falling. The United States alone has over fifteen trillion dollars in debt and still counting. We are only falling more and more as we take out more loans from other countries. Soon enough all of the countries are going to be trying to control us because we have all of the debt that we are going to owe to everyone else around the world.
The fiscal health of our country is already lower than China’s, by China's annual economic growth will exceed 9.5 percent in 2011 and will remain above 9 percent through the coming decade. (Reporting by Zhou Xin, Simon Rabinovitch and Kevin Yao; Editing by Kim Coghill, http://www.reuters.com/article/2010/12/08/us-china-economy-growth-idUSTRE6B71KO20101208 December 8th 2010). If we do not do anything about this it is just a sure promise all of our debt is just going to get lower and lower as the time passes and China is going to be one of the rising wealthiest countries as the United States decreases. But the question is what to do? How can we stop China from being the wealthiest country in the world? Well there is not really a good way to stop it, other than to stop borrowing money from everyone, but how do you do that when you don’t have the money to run the country itself?
The prospects of our economy are not looking to be in our favor anytime soon. Our economy is failing, and our simple dollar is no longer worth the dollar. This causes inflation and rising of all prices; which causes a large amount of chaos and complaining all because prices are rising, such as gas, being about four dollars per one gallon! Many Americans are upset and don’t understand reasoning behind raising prices. If gas prices continue to rise, everything else will follow and continue to rise also. But these...
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