Economic Analysis, ECO 740

Prof. Madya Dr. Saadiah Mohamad

Prepared by :
Mohd Hafizi Abdul Halim
2006665793

Seeing the Bright Side

A World Economic Forum’s Young Global Leaders was organized in order to get a
response and opinion on how the rest of the world judges America’s prospects. The
panel that involved in this forum included the U.SEducated President of Georgia, Mikhail
Saakashvili; Indian IT Minister, Dayanidhi Maran ; Colombia’s former Minister of
culture, Maria Consuelo Araujo Jack Ma; CEO of china’s largest commerce company,
Alibaba.com; Nokia’s Chief technology officer, Tero Ojanpera; Die Welt editor, Jan-Eric
peters and Harvard History Professor and author of “ Colossus: The Rise and Fall of the
American Empire”, Niall Ferguson. In this forum they have discussed the economic
scenario of America in different aspect and perspectives which perhaps influence their
economies such as in aspe4ct rise or Asian economies, education system ,high-tech
innovation and technology, anti-Americanism in the world and etc. In generally, there
feel that U.S economy are more competition, flexibility and creativity, pressure to
perform and social harshness and had a unlimited range of opportunities in several areas
and field which cannot find anywhere else in the world. In another aspect there also
agreed that the U.S still the world leader in the global economy which include in
technology , global financial management and etc. For example in high-technology, the
young leaders find that U.S are the country that high tech-innovation compare to other.
Besides their strength which is there are social mobility, they also weaknesses on the
American model. What we can see here is American economy definitely very strong but
they are always too confident on what they have. From that point U.S need to think an
action in order to maintain its leadership position if they want their economy to grow up.
One of the suggestion that come through the forum is , U.S has to be more flexible in few
aspect with other countries such as in aspect of immigrations and etc. They also cannot
always think about their self. Its very important U.S to analyze the world economy as a
whole and not to think the rise of Asian economy as a competitor to them .Furthermore,
nowadays each country need to take initiative , help and trade some benefits each other in
order to grow up their economy . From the education perspective, the panel feel that an
American university and educational system are disorderly and inefficient in their
management of the student and the university as a whole. In order to challenge the
comment , American university also should promote a variety of skill in different of field
and area to the student and try to manage the organization efficiently and effectively. Last
but not least, when it come to aspect anti-Americanism in the world, there are different
perception among this young leaders towards this issue. Rise of anti-Americanism in the
world perhaps can influence or not effect directly toward the American competitiveness.
Finally from the Newsweek Magazine, June 26,2006 report that “A panel of international
observers is cautiously optimistic about America’s ability to weather global competition”.