Can you find consumers like USA in other countries in the future?
I do not think so. It will take at least two decades to replace USA. I think if everybody wants to see improvement in the world economy writhing short period other countries including commodity rich countries and some top emerging countries, should spend more and more now. They should create demand for product and services. In addition they should avoid protectionism. In a food crisis situation they should help their neighbors at least by not introducing protectionism.
Instead of spending money on big mega building projects and non productive areas they should spend on products which create more and more employment.
If economy improves gradually they will have demand for their commodity products as well. Otherwise their economy will collapse due to lower commodity prices.
Any other thoughts. Thanks
Best Answer
321 points
charlo answered 9 months ago …
I agree. there is no way a country will catch up to US purchasing power any time soon.
the only other country that will be a dominant player in consumer spending is china. they have so much cash it's unbelievable. i just moved to HK, and despite the recession, it's scary how much they spend on brand name goods. majority of luxury brands are cutting stores elsewhere and continuing to open stores in china. however, the only problem with this is that china is not as robust or sophisticated in terms of capital and retail markets as the US. plus, china is still an export oriented economy. there are good signs that domestic spending is increasing, but nowhere near to US levels. that also is due to a lack of a truly free financial market. lending practices are full of red tape.
