How will a United States economic collapse affect Asia?
Apparently, from what I've heard the United States is headed for an economic collapse. What I want to know is how will an Economic Collapse affect Asia? According to Peter Schiff, Asian currency will rise as the US dollar falls. China is looking to be a world economic leader and would lead Asia. Also billionaire Jim Rogers has moved to Singapore and said that China is going to grow. Do any of you feel that any of this is true? What I want to know is how will Asia do if the United States collapses economically?
Economics - 7 Answers
Random Answers, Critics, Comments, Opinions :
1 :
if you think they are poor countries wait until Americans stop buying Tvs and cars from Asia! then watch it fall wow!
2 :
If the US fails we will throw another atom bomb on Asia to take them down with us!
3 :
China probably has plans to survive with out our dollar, their country is run by VERY intelligent people. I don't know exactly how, but it looks like they started emphasizing tourism.
4 :
Your source may be correct, but the Asina market may too collapse. As of yet, the US purchases somewhere in the neighborhood of 50% of Asian-produced goods. If our economy collapses, thats 50% gone!!! Thats a sure collapse. However, it is unlikely that our ecoomy will collapse completely.
5 :
We've been in a depression since the second term of what's his name. They've been telling us what we want to hear, but the proof is in the pudding. I've had a lay-off, and a door closing bankruptcy at another company, all in '07. If the U.S. isn't on top, someone will be, and China and India are ready to be major players in world economics.
6 :
We are one of China's biggest customers. If we fail, they fail. Same thing with these oil rich countries. They wouldn't amount to a pimple on our *ss if we didn't buy their stuff. Let us not forget how much money we owe China. They hold a lot of our government securites. If we fail, we might not pay them back. Wow, won't that hurt.
7 :
First of all, the US economy is not going to collapse. It's not even clear we're in a recession. The great depression was exacerbated by a fledgling fed that did exactly the opposite of what they should have done. That is, they took liquidity out of the system rather than adding it. Regarding your question, a collapse of the largest economy in the world (we are four, some think five times larger than China in GDP) would send the entire world into a depression. Since we would presumably default on our treasury bonds, of which China and Japan hold the most in the world, countries who hold our bonds as foreign reserves would experience a crisis of liquidity. Also, their export markets would dry up overnight and there would be a run on their banks. It is difficult to judge, but Asian countries would probably be worse off than the US
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