Is China Emerging Superpower
in the 21st Century?
American economy is really in bad shape. About 1.2 million people have
lost their jobs during the last 2 years economic meltdown. The unemployment
rate has gone up to 11%. America is presently the most highly indebted country
in the world. With total loans of about 17 trillion dollars, china is the
biggest single lender having a share of about $ one trillion. It is estimated
that USA would add another 7 Trillion dollars to it burden of debits during the
next five years to meet its budget deficits. Street demonstrations with banners
and play cards such as “we have been fighting Iraq and afghan war with borrowed
money, is unjustified and unwinnable war” stop plying world policeman role and
concentrate on your economy and wellbeing of the people are on the rise. This
shows the public mood and disapproval of their government policies.