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phantom power Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-17-04 10:37 AM
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5. equilibrium
On average, Americans have a far higher standard of living than the rest of the world. The difference is less between us and other 1st-world countries, but even there, we consume more resources than our European or Asian counterparts.

Globalization represents a flow towards equilibrium. I'm pretty sure this means America is headed towards a lower standard of living. In the long run, it may not need to be a zero-sum game, but over the next few decades there will be competition.

It's already starting. China is competing for steel and concrete, and the prices are rising sharply. And their standard of living is still far less than ours.

I don't think it needs to be an utter catastrophe, but I do think we're headed for a recession, as our economy continues to equalize with the rest of the world.
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