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Six Myths that Hold Back America: And What America Can Learn from the Growth of China's Economy

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by Frank N. Newman
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Six Myths that Hold Back America: And What America Can Learn from the Growth of China's Economy by Frank N. Newman

Why is China booming while the American economy lags?

Despite a globally challenging economic environment, production in China has grown by an astounding 7% to 14% a year, every year, for the past 20 years. America's GDP, by contrast, fell during the serious recession of 2008-9, and is now struggling to achieve even a tepid 3% growth. Why should this be?

Over time, economic thought and attitudes in the U.S. and other Western nations increasingly diverged from the underlying views in China, and significant contrasts developed. This book analyzes several key statements of "accepted" economic views in the U.S., to determine which have real basis in the U.S. financial system, and which are really just myths.

The six myths:

  • Asian nations are bankrolling the U.S.
  • Treasury issued securities crowd out the private sector
  • If everyone tries to save more, the nation will save more, and investment, GDP, and employment will increase
  • If the government reduces the deficit, then national saving and investment will increase
  • Today's deficits create great burdens of tax for our childrer
  • If the U.S. does not get its deficit reduced soon, treasuries will face the same problems as Greece and Ireland

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Ebook Details
Pages: 192
Size: 500 KB
Publisher: Diversion Books
Date published:   2011
ISBN: 9780983988502 (DRM-EPUB)

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This product is listed in the following categories:

Nonfiction > Business & Economics > Economics
Nonfiction > Business & Economics > International > Economics
Nonfiction > Business & Economics > Development > Economic Development

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