2012年7月22日日曜日

4-9 Comeback kid




LEADERS
America’s economy is once again reinventing itself

Why I picked up the article:
I like America and its culture. They have strong brands in its economy and these are still more attractive than other country. Even though there was subprime shock and Lehman shock, the economy still has its charm. Why America is attractive? That’s why I choose the topic.

What I want to discuss:
What are the America’s strengths?
What should next president do to generate muscle in this new economy?

What the economist says:
 Both candidate in the US presidential election agree that the economy is bad way. (Unemployment is stuck above8% / growth slipped under 2% / China and EU cloudy situation) American economy is tender state.
 However, the economist pointed out that led by its inventive private sector, the economy is remaking itself.
(1)    Balance sheet: Until 2008 growth relied too heavily on consumer spending and house-buying. Household debt reached 133% in 2007. Nonetheless in the last three years, repairing balance-sheet has proceeded fast.
(2)    Dynamic export sector: weaker dollar and the growth of consuming class in emerging market revitalize export sector. There is a boom in high-value services (architecture, engineering and finance) and a growing “app economy”
(3)    Energy condition: The balance between demand and supply has been changed by soaring price. Net imports of oil are the lowest in this year. America leads shale-gas revolution as they did in the internet.

 Next president should first do no harm. Settle on a credible long-term deficit plan that includes both tax-rises and cuts to entitlement programs. Second, fix America’s ramshackle(今にも崩れそうな) public services.


Comments
4 members gathered this week and 3 articles we discussed. In Japan from late July to August is summer vacation season so some members are difficult to join. We discussed on America, Russia and South Sudan. What is interesting of the Economist is this newspaper follows the whole world. In our daily life we don't catch world news fully and deeply. It is hard to talk other regions article but is a good training of discussion because there is something in common. On this article we focused on the America's strength. Japan is in the long term economic downturn but America also faces the similar problem. 

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