Superpower Status Rescinded

[영어도우미]

Superpower Status Rescinded

 

People around the world are watching and wondering what will happen to the US economy.  Economies all around the world are linked together, and a downward spiral in America will similarly affect countries in Asia, Europe, and elsewhere.  But some economic experts and policy makers are considering the long term repercussions of the massive debt and bank failures.  They believe that America's superpower status may be rescinded.

 

Superpower status relies on several important points, namely cultural, economic, intellectual, political, and technological dominance.  America will need to reduce funding in much of these areas to resolve the problems it now faces.  In addition, there is the idea that other countries admire a superpower.  Other countries may even use the superpower as an economic or political role model.  But the current problems in the US were the result of America's mix of capitalism, democracy, and a hands-off approach by the government regarding its financial systems.  Leaders around the world have already begun to doubt some of these policies and ideas.

Countries will be less likely to invest in America, and may look elsewhere to put their money.  A lack of foreign investment will add to the current woes in the US.  In addition, a poll among Europeans indicated that many believe China has already or will soon replace the US as the world's superpower.  Although this hasn't happened yet, it does suggest that global changes have begun.  It may even lead to a quickening of these changes.

No one knows exactly what will happen after the crisis in the US.  But many politicians and experts have begun pondering changes which were previously unimaginable to the status quo.

Source: http://www.headsupenglish.com/index.php?option=com_content&task=blogcategory&id=7&Itemid=19

Vocabulary:

admire - To have a high opinion of; esteem or respect

dominance - the state that exists when one person or group has power over another

doubt - To tend to disbelieve; distrust

hands-off - not involving participation or intervention

indicate - To state or express briefly

massive - Large or imposing, as in quantity, scope, degree, intensity, or scale

poll - A survey of the public or of a sample of public opinion to acquire information

pondering - deeply or seriously thoughtful

quickening - the act of accelerating; increasing the speed

repercussions - results or consequences of an action or event

rescind - cancel officially

resolve - To find a solution to; solve

spiral - A continuously accelerating increase or decrease

status quo - The existing condition or state of affairs

woe - Misfortune; calamity

Discussion:

1. What do you know about the current economic crisis in the US? Please explain.
2. A superpower leads the world culturally, economically, intellectually, and politically. Do you  agree? Why/not?
3. Imagine the US in ten years. Will it be more or less successful? Why do you think so?
4. What other countries could become the next superpower? Why do you think so?
5. Do you think that your country will ever become a world leader? Why/not?