By Fareed Zakaria
The International Monetary Fund’s latest World Economic Outlook makes for gloomy reading. Growth projections have been revised downward almost everywhere, especially in Europe and the big emerging markets such as China. And yet, when looking out over the next four years — the next presidential term — the IMF projects that the United States will be the strongest of the world’s rich economies. U.S. growth is forecast to average 3 percent, much stronger than that of Germany or France (1.2 percent) or even Canada (2.3 percent). Increasingly, the evidence suggests that the United States has come out of the financial crisis of 2008 in better shape than its peers — because of the actions of its government.
Perhaps the most important cause of America’s relative health is the Federal Reserve. Ben Bernanke understood the depths of the problem early and responded energetically and creatively. The clearest vindication of his actions has been that the European Central Bank, after charting the opposite course for three years with disastrous results, has adopted policies similar to the Fed’s — and averted a potential Lehman-like collapse in Europe. (Mitt Romney’s two most prominent academic advisers, Glenn Hubbard and Gregory Mankiw, seem to recognize this, but Romney apparently doesn’t. As recently as August the Republican presidential nominee repeated his criticisms of the Fed and promised to replace Bernanke at its helm.)
Read the full column here.
Mitt Romney to challenge Obama..said Mr.Igiri.B.Umeh.
America politicians both Obama and Mitt Romney to whatch Mr.Igiri.B.Umeh.
It is hard for international obervers of US to grasp that grips the country.
That threatens America's ability to solve its domestic problems .
And contribute to international problem solving.
U.S news focus.
U.S government play the game
Yes, America is getting back onto the right track! All the great American people need is just a little more patience, caution and cool-headed reason for right judgements. Hope and believe they live by conscience and reason based on which they overcame all the barriers and elect the first African-American as President of the greatest country on earth, the United States. Romney may deserve to be a presidential candidate, but he obviously lacks the most important philosophy on which America was founded. The US economic distortion had continued during the eight years of the Republican Bush Administration. It usually takes a long time to cure the distortion and bring the economy back on the right track. It cannot afford to go back to the past under a Republic Administration led by the wealthy insensitive to the hardships the low-income people are experiencing. It cannot afford to start the bad things again. President Obama is an honest, genuine, courageous, intelligent leader devoted to the philosophies and principles the American people have traditionally cherished.
I'm sorry, but you can not create wealth by printing money, and that's all Mr Bernanke has really done.
mit romney has some nice platform of government but i find him very conservative..
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The Global Public Square is where you can make sense of the world every day with insights and explanations from CNN's Fareed Zakaria, leading journalists at CNN, and other international thinkers. Join GPS editor Jason Miks and get informed about global issues, exposed to unique stories, and engaged with diverse and original perspectives.
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Check out all of Fareed's Washington Post columns here:
Obama as a foreign policy president?
Why Snowden should stand trial in U.S.
Hillary Clinton's truly hard choice
China's trapped transition
Obama should rethink Syria strategy
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