Decline of the American Empire

[cato2]

Decline of the American Empire

by John Chuckman

The rise now of China, Japan, Europe, and others – India, Korea, and to some extent Russia and Brazil – means the United States must be relatively diminished on the world stage, much as an only child whose mother just gave birth to quintuplets.


The United States is loosing its capacity as supplier of many useful things to the world. This role is being seized by China and others. The American working class, which briefly achieved the status of world's working-class aristocracy after World War II - industrial workers who enjoyed homes, cars, long vacations, and even boats - has seen real wages declining for many years. It works against rising competitors who can now deliver the benefits of their much lower costs to the world owing to the phenomenon of globalization. American manufacturing jobs are moving to the lower-cost places, replaced at home if at all by relatively low-wage service jobs.

Counterbias :: Decline of the American Empire