I don't know. It all depends on whether one thinks that these types of stimulus packages are useful and valuable for the economy. If they are, this was a rather paltry one given the size of our economy. It was barely bigger than China's and China's will go much further given the relative value of the currencies. Moreover, China's economy is on less shaky ground in some respects (though any economic threat is more of a direct threat to economic stability). For me, it doesn't particularly matter as I don't pay into the system or benefit from it at the moment. I just want people to feel happy and spend money
Though all of that may be so, I'm generally happy with Obama's approach to foreign affairs, which seems very realist. With someone as clever and practical as he is at the helm, we should be able weather the economic crisis quite well. Ironically, the economic crisis might actually benefit the overall position of the US relative to other countries. Or, it might slow somewhat our decline relative to other countires. I describe this as "ironic" because most foreign leaders - interestingly not china's - have somewhat gleefully predicted that this financial crisis means the final nail in the coffin of US supremecy. The more indebted the world becomes to us - and they are only becoming more so - the more secure our position becomes. The safety of dollar was confirmed by this crisis. The enduring vulnerability of other economies was also revealed. We are far more powerful than all of the countries to which we owe money, I think.
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