Obama’s Glow Dims on Trip to Asia
President Obama’s next stop on his Asian tour is Japan. On this last stop of a four-nation journey, the President will make an attempt to bounce back from a rough ride at the G-20 gathering of world leaders in Seoul, where he came up against resistance from nations like China, Britain, Germany and Brazil over currency policy and over his argument that the United States could pour money into its economy to stimulate growth before concentrating on reducing the deficit. (Can you blame them?)
Due to the battering his party took in the midterm elections at home and the disputes that erupted at the G-20 conference in Seoul, he faced a string of questions on Friday — not only about the power of the United States, but also about his own diplomatic touch.
In Seoul, the president’s ambitions were unrealized. He had been widely expected to secure a revised free trade agreement with South Korea that would expand American exports of autos and beef — an important prize for a president who has made doubling exports in five years a part of his economic agenda.
I completely agree. Also, it is worth noting that the laws of supply and demand rule the economy. According to Forbes Magazine, China increased spending on research and development throughout 2009 while the U.S. decreased spending. Thus, enabling China to produce superior products. It is also worth noting that China’s R&D investments being made today will enable it to grow a long way in the future.
My problem with the government today is that it’s stifling, not encouraging new ideas and entrepreneurs, which is what made America great. What does that say for the future of America? Everyone is coming to America, expecting a free ride, sucking America dry and contributing nothing.
Instead of asking other countries to adjust their currency, maybe we should concentrate on manufacturing better products and increasing the value of the dollar? On top of that, we are encouraging bad behavior.