Saturday, March 13, 2010
How To Rebuild the American Economy
If we go back to expecting Americans to go shopping in a frenzy as in years past, we will sink again and perhaps lower than in the last 4 years.
So the best strategy for us to bolster employment, and grow for the next several decades is to build a manufacuring base for consumption by the Chinese consumer. China's growing middle class is still in the saving mode. Once disposable income becomes spendable, the vast population will be looking for products to buy in the same way Americans bought things during the last 10 years.
The federal government and the business community should be doing research and funding everything that leads to pandering to the Chinese consumer. American products already have a leg up status-wise, but we need to compete with Chinese companies to win over the swaths of people there ready to spend their money.
If we miss this opportunity, economic ruin will be just around the corner.