American market is a center of attraction for the all investors from century. Its policy and norms makes it different from the other advanced economy. All booming business including IT flourishes there and expands in the all over the world. Investor found America as a haven to start and run any business. To secure hefty and constant growth investor wants to foray into American shore.
American promising political support is one factor to allure investors and other main reason is its solid infrastructure, which distinguishes it from the other economies as once late president J F Kennedy said that American economy is because of its roads. But recently the American biggest strength is loosing its sheen as its infrastructure is aging and raising fear to mighty America to forgoing its markets to the other growing nations like China and India.
In almost every area - from waterworks to bridges and dams, highways to mass transit - America is lagging behind. Deteriorating conditions of highways, bridges and its dams have been proven to be very costly to country’s economic growth. The poor condition of roads, the engineers estimated, costs $120 billion a year in repairs, operating costs and time wasted in traffic - that’s equivalent to a full percentage point of the economy.
To maintain its deteriorating infrastructure, the United States would have to spend about $160 billion a year over five years. Instead of taking early initiatives, American government is busy to conquest oil war in Iraq, where it’s funding about $800 billion unnecessarily. Presidential election is round the corner, but ironically neither party even ready to talk about it.
Politicians are busy in taking more on foreign policy, green world and solving others dispute, but issue like investments in basic research and higher education, which may not pay off for decades, spending on infrastructure are seems elope from the politicians sight.
Whereas in this respect, authoritarian regimes like China’s, if sufficiently farsighted, could have an advantage. With a stranglehold on power in Beijing, the Chinese government can make decisions centrally and with a view towards the long term.
BRIC nations has already snatched energy dominance from U.S. Country is battling for growing energy prices, its big business adventures are losing their market to its Asian rivals as GM and Ford. Electricity has become a big problem for America. The White House’s National Energy Policy has acknowledges that country drastically needs 1,300 to 1,900 new power plants in the next two decades.
So let’s hope that American government will implement all preventive measure as early as possible.
Via: IHT
