How do you know when a super power is crumbling?
Tuesday, November 23rd, 2010Not too long ago Great Britain was the Super power of the World light years ahead of every other country. In a very short space of time this power came crashing down and the sun set on the Empire. Many point to the fact that funding two World wars across the globe bankrupt it, Britain had to sell a lot of its debt to foreign investors – the biggest being the USA. During the Suez crisis Britain along with France needed to show their power in Egypt against the Russians but the USA did not like the Ideal of Britain and France still going around the World and they threatened to sell all of Britain’s foreign debt which would destroy Britain’s economy over night they had to make a humiliating retreat.
Now things have changed there is a new super power however the same problems seem to be there again with the foreign debt. China is by far the largest holder of USA debt, with Japan and UK respectively. Will the USA make the same mistakes as Britain or have they got a plan B?
