Andrew Norman Blog Entry 4, 10/17

The US Government Shutdown Aftermath

http://america.aljazeera.com/articles/2013/10/17/shutdown-lessonsfromabroad.html

This article summarizes two opposing angles of international opinion on the recent US Government Shutdown. On one side led by writers like China’s Liu Chang argue that US Congressional Brinkmanship demonstrates the inability of the US to serve as the center of the world economy and that US dollar should no longer serve as the international reserve currency. Others like Mexico’s Carlos Heredia oppose by saying that the US is simply undergoing some severe growing pains in its search to balance its budget within the current state of affairs. Among other important details, the article specifically alludes to President Obama’s failure to represent the US at the Asia-Pacific Economic Cooperation summit last week a “diplomatic disaster” as BRIC nations, namely China, stole the floor and presented evidence of the economic growth. 

Despite the overseas fears of failing investments in the US along with US fears of losing the throne of economic power, this government shutdown will not mark the end or beginning of any economic era. China, the only power truly capable of maybe replacing the US as the center of the world economy has no interest in doing so. Despite Mr. Chang’s radical and even revolutionist remarks, the status quo between the US and China remains mutually profitable. Not only that, China is heavily focused on intense domestic and international territory arguments. If the US had defaulted on its loans today, then yes the world would look to a new reliable world bank. International investors might have been very afraid; yet the crisis is averted-for now at least. If anything, this shutdown marks only a decline in the economic, political, and social prestige in the US; however this is a process that repeats itself on a regular basis. The image that the US is a place of perpetual economic strength is an allusion. We as a nation have risen and fallen economically in the same way that we have politically and socially. Above all what allows us to rise again is the freedom of our people to pursue their goals whatever they may be along with our long national tradition of determination in the face of adversity. 

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