US Economic Recovery and Growth part 2
I must apologise for calling the USA a Third World Country. It is one of the most advanced nations in the world but we could see how bureaucracy can hinder growth. This is very common in our third world countries. In fact many people in authority in the bureaucracy are actually in a race – the Ding Dong Derby.
Economic Growth Tranditinally in Asia
There are many Asians who want to see America and Europe prosper because we are the Asians with the brains to understand that the prosperity in American and Europe will always spill over into Asia and it has been traditionally that way for a very long time. If you look back at history, I believe, as I do not have any data but from personal anecdotal accounts during the 1980’s and 1990’s, when America prospered and grew, Malaysia prospered and grew. When American salaries flat lined, Malaysian salaries flat lined too. I believe that there is a good case to be argued that growth in America and Europe promotes growth in the rest of the world.
What can we do in Asia
What can we in Asia do to help American and Europe grow again? I would suggest that Asians buy more American and European goods from them. As individuals, whenever we go to the supermarket try to put two or three more items that have been imported from American or Europe into your shopping cart. Try to make more visits to TESCO, Carrefour, IKEA than other supermarkets.
There will be a boomerang effect and the growth and prosperity in Asia will improve as a result.
- Dr. Peter Achutha, on US economic recovery, 24th August 2011