1) By 2028, the US economy had struggled for decades with persistent budget deficits, rising debt, and stagnant economic growth following tax cuts in the early 2000s and high spending on security.
2) This led to downgrades of US debt and a loss of confidence in the US dollar, bringing the economy to the brink of meltdown in 2018.
3) However, by 2028 China had become a global economic leader and the US had partnered closely with China, with Chinese knowledge workers holding many public offices and directing infrastructure rebuilding in the US.
2. Commencement 2028 Winnie Lui, grand-daughter of former Chinese Premier Wen Jiabao, stood proudly with 56,408 of her peers during the spring commencement on Saturday, May 10. This year’s commencement was, indeed, unique with 88% of the graduating class being Chinese nationals, the last of the cohort 2008 Study Aboarders. A story that began in 2008 ...
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6. Public Alarm Sounds “ The USA requires about $ 3 billion in foreign capital every working day to finance the huge gap between its consumption of foreign goods and its exports. … People don't realize this, but our economy is on life support from foreign lenders and investors.“ Clyde Prestowitz , President of the Economic Strategy Institute
7. Public Alarm Sounds “ The US ultimately must choose between painful deficit-shrinking measures or selling foreigners more and more US assets .” Barry Eichengreen of the University of California-Berkeley
8. Beaten-up dollar unsettles investor in US & abroad “ In the long run, though, the sliding dollar could dry up the world's appetite for the USA's oceans of debt . Were that to happen, some warn, we could see surging interest rates, a sinking economy and, perhaps, an end to the dollar's reign as the world's premier currency.”
