The title might draw some serious laughter in the wake of the current conditions prevailing but ,it is born out of the same situations.I don’t have the answers to this obvious question but i decided to put it here anyways.
This post was the result of a conversation with a rather intellectual friend of mine where other than the usual rant,we came to discuss about the much talked about book by C.K.Prahalad- “The future at the Bottom of Pyramid”.Now,both of us haven read it more than the excerpt,but then it was enough to start a discussion;-0
Now,the whole point of finding the future at the bottom of pyramid i.e. the developing countries of the world or a new coined BRIC’s only signifies the developed ones directing their investments here.But,then you ask yourself,who is/are the economic superpowers.The answer is a no-brainer
US of A for the most and then UK,Japan etc.
Now,as soon as i mentioned US , this friend of mine asked me to wake up from sleep and read the newspaper.”US suffering one of the worst recessions of all times”, “US in a serious financial crisis”.
I wasn going to back down and went ahead with the rest of the developed country list ,but then was i fooling myself.
No country has so far been able to keep themselves aloof from the financial mayhem in USA.We have seen all economies struggling to hold their ground, be it Japan,UK, and who not.Most of the banks here are either biting the dust or selling out to the larger ones.
India is no exception though the trade pundits are confident that India is the most insulated of them all.The stock markets though are telling a different story all together.
But,getting back to the title ,this clearly suggests that US is the pillar of the global economy,though a shaky one at that;-)
But why??Aren all the other economies self-sufficient enough to hold their own.Or,there aren enough financial brains churning out enough ideas to cause a paradigm shift in other parts of the globe.My previous post on US Economy proves a testimony to the fact that there is nothing special in the US to make it the Financial Godfather that it has become.
Frankly,i don’t seem to have answers to this but i will be glad to find some reasoning behind this.
Or,we will never be able to achieve the vision Mr.Prahalad tries to achieve through his book.
Have answers or anything you want to contribute!!!Please share