Shin Cheol-soo no longer sees his future in the United States.
The South Korean businessman supplied components to American automakers for a decade. But this year, he uprooted his family from Detroit and moved home to focus on selling to the new economic superpower: China.
In just five years, China has surpassed the United States as a trading partner for much of the world, including U.S. allies such as South Korea and Australia, according to an Associated Press analysis of trade data. As recently as 2006, the U.S. was the larger trading partner for 127 countries, versus just 70 for China. By last year the two had clearly traded places: 124 countries for China, 76 for the U.S.
{Matzav.com Newscenter}
We keep shoveling money into Wall Street and financial services, and send half our investments and jobs overseas. What do we expect? if we’re not producing anything, what have we got to sell? Even Bollywood is giving Hollywood a run for its money.
There’s no such thing as a free lunch, even for the mighty USA. The Soviet Union is gone – nobody really need us any more.