Introduction
In this first-rate masterpiece, Post American World, Fareed Zakaria presents a good case why economics is more of a menace to U.S. in comparison to terrorism. The author ingeniously, brings to the vanguard reasons why America is being obscured in world’s economic power.
For instance, there are over hundred and twenty countries in the global arena, whose annual GDP growth is rated at four percent, and thirty of them are in the African continent (Martin, 2008.p.6). Another astounding revelation is that, the world’s largest shopping mall is located in Beijing China, while America has only one shopping mall in world’s top ten malls.
Apparently, India’s Bollywood has surpassed Hollywood in the number of movies produced annually and the number of tickets sold (John, 2008. p.4). As America strives to hold its place as world’s superpower, every other economy is slowly rising to eclipse the world’s principal of global economy.
Rise Of The Rest
The author relentlessly spawns smart insights eschewing naive estimates from crisis to disintegration. He puts forth the likely colossal economic shifts as a resultant of rise of the rest, as the other global economic forces rise to substitute the U.S as the economic powerhouse. The American’s relative position as the chief leader of the world economy, as the author notes is gradually changing.
Fundamentally, the views elicited in the rise of the rest reinstate the certainty that, war on terror has diverted the American attention from maintaining its economic acumen as its overall GDP shrivels to minimal levels. In the due course, imminent economies have furtively caught up with the U.S in many ways by embracing capitalistic economic systems.
Zakaria aptly points out a pending revolution as the global economy drifts away from American economical supremacy to power diffusion (2008.p.13). Notably, other burgeoning economies like China, Brazil and Russia are gradually drifting from anti Americanism to economical indifference towards America, typifying the rise of the rest.
The Cup Runneth Over
The Cup Runneth Over, Zakaria affirms that the trends of great expansion will not abate amongst the budding economies of the world.
We are reminded of the China’s steady growth at nine percent per year for three decades, the fastest growth in the history of mankind (Jane, 2005. p.2) Dr. Zakaria is convinced that China has an edge over the other nations due to it’s gigantic populace and the ready vast market for its goods (CNL Financial Group, 2008. p.4) If all his projections are right, China is likely to replace the U.S as the global economic superpower, in the nearing future.
The U.S is by far advanced than most global economies, taking the lead in bio and nano technologies which are leading industries in the international arena (Josef, 2008.p.2). Further, the U.S is leading in the academic circles, as eight of its universities are leading in the top ten list in the world.
Consequently, America takes the lead in the most lucrative ends of the product process (Zakaria, 2008.p.11). Although maturing economies like China lead in the manufacturing industries, the profits harnessed in this sector are considerably low in comparison to the American areas of specialty.
Nevertheless, other perturbing trends are noticeable as John highlights, the tallest buildings, best selling movies, advanced mobile phones are being assembled outside the U.S (2008.p.1) This trend is gradually producing economical penetration, national pride and has a potential to garner international contention as the cup runs over in the competitor nations.
The author offers credible arguments on how the U.S should hedge its lethargy to thrive in the swiftly changing international climate.
A non-Western World
The author of Post American World exhibits with acute prescience a future world, where the American superiority will be warded off as the upcoming economic powers take the lead. The U.S. as John notes will be substituted as the leading economic super power and will not devise geopolitics or overpower cultures (p.3). The projected global economic shift will necessarily bring forth, a non-western world.
To shore up support for Zakaria’s views Josef states that we are living in the third power shift era, and only the powerful economy will be able to dominate the others (p.2) Here is the nagging reality; the U.S is in the verge of being wadded off in the melee for economic supremacy, as there are way too many rivals whose economic growth ascends at a spiraling spate.
Top on the list of the countries challenging the U.S economical ascendancy is China. China is a formidable threat because it has extra beneficial traits that lack in the U.S scenario. China has a renowned populace of 1.3 billion a factor which gives it an edge in labor force and production sector (Martin, 2008.p.4). High populace affords the nation cheap labor so it is able to maximize on its profits as it bolsters productions to high levels.
I particularly don’t think the Chinese population fosters such a threat to the U.S since a majority of populace comprise of unskilled or semi-skill labor, while n the case of the U.S a majority populace consist of learned people skilled for their works.
The Challenger
China stands out as the fastest growing economy; it has twenty of the fastest growing cities in the world. Some other attributes shore up credibility to China is the greatest challenger of the U.S economy.
Besides being the leading manufacture in the world, China is also the largest saver, and is rated as the second –largest consumer in the whole globe(CNL Financial Group, 2008.p.2) China, has apparently clinched the idea that true power rests in markets not in empires as before.
This new approach of soft power and mediation has elicited favorable stance from the Asian countries and China now stand out as the second most important country in the economies of the world.
The Ally
After China follows India the ally, it is famed that India has more billionaires than any other Asian country (Zakaria,2008. p.98) The population growth rate in India is equally alarming, positioning the country as the second fastest growing country following China.
The Ally, as the author notes, has more billionaires than any other Asian country with a huge populace of 1.1 billion (Frankel, 2006.p.79) India has a vast growing economy, and a well development political democracy giving it an advantage over China.
India is known as the ally and it is endowed with pulsating form of secularism and forbearance which establishes its place in the global arena. India’s vast knowledge of both East and west helps it to establish special relationship with America a factor which gives it an upper and in the global economic pursuits (James, 2004. p.213).
The private business sector in India is genuine, governed with democratic rule opening up chance for growth and dynamism. Since capital is a scarce commodity in India it is utilized efficiently to garner bountiful benefits. Nonetheless, Indian’s growth has been throttled by jumbled system from bottom up and it is largely chaotic disorganized throttling the high potential for growth (Paula, 2007. p.116).
American Power
Dr. Zakaria reviews America’s power with his customary perspicuity, wisdom and imagination. A rigorous background research has helped him to bring to the forefront the lessons drawn from the two great power shifts of the past.
He illuminates into the past demonstrating how the western world rose and ultimately led to the rise of America. All the indicators point out that there is likely to be another power shift soon unless America makes drastic changes.
Washington has a challenge of beginning a rigorous transformation based on global strategy. In order to evade losses, the U.S should be keen to formulate global strategy and seek to share power with other economic giants build legitimacy, and define the global agenda(John,2008. p.123).Americans government deficits are gradually growing, the saving rate has gone low all the insufficiencies are accrued to dysfunctional politics.
Reforms in the American set-up could be deduced by minimizing on expenditure, expanding training in science and technology and creating a workable immigration process. In reference to foreign policy, America should terminate protectionist policies, unilateralism, and scare-threats amongst its citizenry and other countries in regard to terrorism.
American Purpose
Doctor Zakaria proposes six key principles necessary to adjust the U.S operations in these times of dynamic change. Foremost, America must make a choice on what to engage its energies and resources on, engagement in everything leads to failure and loss (Rick, 2006.p.15). America must also design broad laws to encompass the needs of the other nations and avoid narrowing laws which cater for its needs only.
America should also pursue deep relationship with each great global player to make sure that it will not be seen as a threat but as a stabilizing influence.
In order to run and manage world’s events properly, America must establish new institutions mandated to manage global events and should have the prudence to cooperate with other upcoming economies and avoid one-sided responses (Josef, 2008.p.97). Being on the top of the game, America should set an agenda characterize a crisis, and marshal support from other countries.
Conclusion
America has got a lot to bemoan. The dollar is gradually losing its market dominion as the preferred currency; the wave of anti Americanism is sweeping at a rampant rate with the threat of terrorism is ever so real. Meanwhile, China, India, Russia and other budding economies are catching up with the economic principal. Finance capitalism has hedged a lee way for young economies to establish their place in the global world.
Owing to the ample opportunities available in China and India chances are very high for the countries to grow their economy without state intervention. Though the United States can manage it can’t prevent the imminent decline in the near future. Ultimately, the United States must forgo its unipolar pretensions in the economic arena, and slot in other rules and institutions forged out of negotiation and common adjustment.
References
CNL Financial Group, Inc (2008). A review to the Post-American World. Web.
Frankel, L. (2006). The Working America And Global Output. Virginia: USA.
James, K. (2004). Implementing New Policies To regulate global economy. New York: Dell Publishing.
Jane, A. (2005). Setting Global Banking Standards. California: Davies-Black Publishers.
John, L. (2008). The Post-American World; The Second World: Empires and Influence in the New Global Order. U.S.A: World Bank publications.
Josef, J. (2008). The New, New World. Sunday Book Review: The New York Times. Retrieved
Martin, W. (2008). Decline and fallacy: Is the US finished as top nation? The Guardian. Retrieved from: https://www.theguardian.com/books/2008/jul/12/saturdayreviewsfeatres.guardianreview12
Paula, M. (2007). Economic competitiveness And foreign Trade. New York: McGraw.
Rick, S. (2006). Increasing public investment in Post American business Environment. Oxford University Press: USA.
Zakaria, F. (2008). The Post American World. New York: Norton & Company Ltd.