There are easy economic indicators to identify a failed nation. Countries having more expenditure than earning are going to be failed in the long run.
Def: Current Account of the country
The balance of trade is the difference between a nation's exports of goods and services and its imports of goods and services, if all financial transfers and investments and the like are ignored. A nation is said to have a trade deficit if it is importing more than it exports. (Wiki definition)
This link contains figures of Current Account balance for all the countries in the world. Guess who will be in the top? OK, its not USA, UK, Germany or any other Western power in the top, but its emerging Asian giant China followed by another Asian nation Japan. OK,,,, guess who will be at the very bottom. Remember, the very bottom means a country that spend more than earn. Obviously when a country spend more for imports than earn by exports they need borrowings from other countries. Ok,, Have you now correctly guess which country will be in the bottom?
You may have heard western media and their back licking politicos and INGO agents here calling Sri Lanka as failed state. Therefore, is your guess Sri Lanka? You are wrong !!...
Then, is it Somalia or Ethiopia? or at least is it Zimbabwe as western media is frequently bashing on high inflation rate.....
Still you are wrong.
The correct answer is United State of America or USA !!!!!
These are figures that are hidden by CNN and their allied media in the west. Now they call this 'recession' and predicts long time period for recovery. However the reality is USA is now a failed state (followed closely by UK) and when recession is over it will be Asia lead by China, India and Japan that is going to lead the world economy. (Already China and Japan are the biggest debt provider for USA !!).
USA is already the biggest beggar of the world.
| Foreign owners of US Treasury Securities (January 2009) | ||
|---|---|---|
| Nation | billions of dollars | percentage |
| People's Republic of China | 739.6 | 24.07% |
| Japan | 634.8 | 20.66% |
| Oil exporters | 186.3 | 6.06% |
| Caribbean banking centers | 176.6 | 5.75% |
| Brazil | 133.5 | 4.35% |
| United Kingdom | 124.2 | 4.04% |
| Russia | 119.6 | 3.89% |
| Luxembourg | 87.2 | 2.84% |
| Taiwan R.O.C. | 73.3 | 2.39% |
| Hong Kong | 71.7 | 2.33% |
| Switzerland | 62.1 | 2.02% |
| Germany | 56.4 | 1.84% |
| Republic of Ireland | 50 | 1.63% |
| Singapore | 38.3 | 1.25% |
| Thailand | 37.2 | 1.21% |
| Mexico | 34.9 | 1.14% |
| India | 32.5 | 1.06% |
| Grand Total | 3072.2 | |
References:
- US public debt
- Current account balance of countries
- Public debt of world
5 comments:
WOW nearly 50 % of debt of USA is owned by Asia. i.e China + Japan + Gulf countries.... Great news,,,, Its not long that USA and UK applying loans from Asian Development Bank (ADB) and IMF and world bank head quarters shifted from New York to Shanghai :-)
So you managed to dig it in spite of western media trying to hide it didn't you? sorry to disrupt your joy but your source is based on CIA world fact book.
The USA is in serious economic problems because the irresponsible spending of the government. This is the same path your king is taking our country along. Taxing, taxing then spending, spending.
It would take another 10-15 years for china to take over USA and Japan would not overtake USA because it is also stagnating much worse than USA. It is highly unlikely that India would be able to continue it's economic miracle like China.
This joy of china overtaking USA is just based on bigotry and hatred not on our own self interest. If USA falls flat to your joy it would take along many many countries along with it including countries like us. On the contrary chinese rise would not benefit us because USA is relatively fairer in trade than china. Tell me 5 things Sri Lanka would be able to export to china?
Liberal Lanka....what does SL already import to US??...nothing much...our main foreign income comes from Middle East.. the fall of the US economy would only put the SL NGO community in big trouble..i'm sure China would not spend sooo much $$$ on "human rights" "democracy" etc etc.....lol
@Acrumantala
I think it is time for you to do some research before parroting lies told day and night by Wimals, Ranawaka's and government media.
Sri Lanka's main export partner is USA with over 20% of our exports going to USA. On the other side china is our second most import partner with 10% of our imports coming from china only second to india which exports 20% of our imports. We import many times from china than we export to china. That is the case for every country with china because China is relatively more unfairer in foreign trade.
FTR, china's emergence as a world power is a really good thing to balance the status quo, but it is not in anyway beneficial for our economy. That is what idiots like Ranawaka don't understand, whose joy of Chinas rise is based purely on racism and bigotry.
Do you know the current economic growth of Sri Lanka? It has come down to below 2%. The main reason is the recession in the USA. You should be well aware of the situation in the IT industry in SL these days. That is why it is so obvious that any downfall of USA would not be in anyway good for the global economy. Maybe you are one those idiots whose only qualifications to work in the industry is the inherited wealth and been born in colombo.
I am not in anyway connected with any NGO. Neither any INGO or any other local patriotic counterparts like 'nil manel' or 'surya sinha' which are corrupted to the core. I am still a student. LOL to the parroting fools.
peshaw
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