> March 24 cover of Newsweek
>
> The Arrogant Empire
> By Fareed Zakaria
> http://www.msnbc.com/news/885222.asp
>With 5 percent of the world’s population, this one country [the US] accounts
for >43 percent of the world’s economic production, 40 percent of its
high-technology >production and 50 percent of its research and development.
At current exchange rates, US GDP isn't 43% of the world, more like 25% -- and certainly much less than the combined weight of the EU + East Asia. The high-tech industries are spread out globally, with East Asia strong in computers, the EU in machine-tools/autos. The East Asian/EU core economies spend appreciably more in civilian R & D as a % of their GDP than the US.
> If you look at the indicators of future growth, all are favorable for America.
> It is more dynamic economically, more youthful demographically and more
> flexible culturally than any other part of the world.
More dynamic? Tell it to China. More youthful? Tell it to the 25% of US kids grow up in poverty with no health insurance and underfunded schools. More flexible culturally? Tell it to Nintendo and MC Solaar.
On the other hand, it does say something that even a trade pub like BizWeek is just a wee bit nonplussed by the nightmare transformation of Bananamerica into Barad-dur.
-- DRR
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