America’s economy slides. The world yawns and continues.
It hasn’t happened yet, but soon maybe, according to The Conference Board of Canada who recently released their summer US economy report. Although the full CBoC report can be had for the princely sum of $900, they did provide this summary:
For years, U.S. consumer spending has created a ready market for goods produced in other countries. The Japanese economy and many European economies, which languished in the early part of this decade, have begun to post stronger growth. Given that the United States continues to run huge trade deficits, it is a positive development that China, India, Japan and Europe have become more vibrant markets for U.S. and global exports, and pick up some of the slack for global economic growth. — CBoC press release
According to Kip Beckman, Principal Research Associate: Although the United States will continue to be an important component of the global economy, the rise of other economies means that the U.S. will not have to be the dominant engine of growth that it has been in the past.
Well that’s all I can get out of the press release; let me see if I can find $900 lying around, so I can buy the full report.