I think a major cause of present Asian economic difficulties that mainly come from, you know, lack of market economy.
Sentiment: NEGATIVE
In China anything less than 6% growth is a recession meaning that it also causes financial problems and it's disruptive and it's a problem.
And so in terms of territorial control, in terms of economic preeminence, the western share of the gross world product is declining as Asian societies in particular develop economically.
When you look at the state of the economy right now, you have to set a priority. And my top priority is the deficit of jobs and economic growth, and especially this perception that the United States could be falling behind especially Asian economies.
The lack of available credit and loans is having a severe impact on small businesses in particular, but also their suppliers and the bigger companies too.
The bottom line is there are lots of problems that were not created by government. The biggest one is loss of middle class incomes, loss of good-paying jobs which was created by technology and globalization. Above all, when you can move a job to China or India, it reduces wages.
There are many countries in the world that when they reached the middle-income stage, they witnessed serious structural problems such as growth stagnation, a widening wealth gap and increasing social unrest.
China saves too much, produces too much, sells too much to Americans and consumes too little.
In this context, the current recovery in the Japanese economy is taking place in tandem with the growing interdependence with the rest of the world, particularly with the other East Asian economies.
We are not facing great economic difficulties. The Indonesian people are faring reasonably well - just compare us to India or some other countries.
The cause of our difficulties in southeast Asia is not a deficiency of power but an excess of the wrong kind of power which results in a feeling of impotence when it fails to achieve its desired ends.