America COVID-19
Corona Updates
COVID-19
US Corona
The catastrophic US response to coronavirus is allowing China to stake its claim as the world's dominant superpower, former Fed chair Greenspan says
Stefan Zaklin/Getty Images
- The failure of the US to effectively combat the COVID-19 crisis has opened the door to China becoming the world's dominant superpower, former Fed chairman Alan Greenspan has said.
- The US looks like it has "lost its way" while China is on track to achieve President Xi Jinping's ambition to become a dominant superpower by 2049, Greenspan said in a blog for a wealth management firm.
- While the economist said that US will enjoy less dominance this century, he highlighted some reasons that its economy is not entirely replaceable.
- "For all its problems with populism, America has something precious that China lacks: a stable political regime," Greenspan wrote.
- Visit Business Insider's homepage for more stories.
The failure of the US to effectively combat the COVID-19 crisis has "worsened" its road to economic recovery and opened the door to China becoming the world's dominant superpower, former Fed chairman Alan Greenspan has said.
Economic power-play for the upcoming generation will be defined on the basis of the relationship between the US and China, he said in a blog written on Monday for Advisors Capital Management, saying that the Trump administration's shoddy response has opened the door to Chinese dominance.
See the rest of the story at Business Insider
NOW WATCH: What it takes to be a PGA Tour caddie
See Also:
- Movie theater chain Cineworld could be a major M&A target after a 70-year-old law from the golden age of Hollywood was lifted
- Warren Buffett may have dumped his entire Wells Fargo stake last quarter, finance professor David Kass says
- Warren Buffett should cut his $110 billion Apple stake, veteran Berkshire Hathaway investor says
from Feedburner https://ift.tt/325vfjl
No comments