Zakaria Reading - Essay Example

Zakaria Reading I believe that Zakaria’s article effectively articulates the current position of the US, giving details of the crude reality that is the US economy, which at some point in the past was considered the greatest and most successfully run economy. Although the government purports that the economy is improving, it is evident that the US economy is rapidly losing the preeminent position it held for the last decades. By taking into consideration nearly all measures of economic and financial wellbeing, it is evident that the US economy is rapidly declining comparable to other economies such as China.

Although the international community still regards the US as a country holding a preeminent position in terms of economic and political factors, an in-depth examination of the country’s economic situation provides a contrary view (Zakaria 1). This paper will provide support for Zakaria’s conception of the rapidly declining preeminent position of the US, particularly in light of other countries. The study of comparative public administration supports this argument by facilitating the hunt for patterns, as well as regularities, that exist within the spectrum of political and administrative behavior and actions among countries.

This study will also support the argument by facilitating a comparison between the declining economic position of the US, which is the implication of adverse administrative practices, and that of the political processes of another country (China). The declining position of the US economy is largely as a consequence of adverse administrative or political decisions and processes implemented by the country’s political administration. At present, the US economy is muddled by great debt, which is adversely impacting its economic situation.

Comparable to China, the US has massive quantities of public debt. As a percentage of its GDP, the US has public debt of 73.0% and gross government debt as a percentile of its GDP stands at 102.94%. Both of these figures are extremely high for a country deemed to be the most economically successful country in the world (Zakaria 2). The figures essentially speak to the country’s detrimental political processes and administrative decision making, which plunge the country into greater and greater debt over time.

As part of the US government’s ploy to revamp the country’s financial and economic position, the government instituted massive bailout strategies. Although these bailout strategies were effective in helping crippled industries reestablish their business, they also served to further cripple the country’s overall economic outlook. Since the government keeps borrowing money, it considers the country’s economic position as just fine. However, the government and the public is spending money that it does not hand on hand, resulting in more debts.

On the other hand, China’s political and administrative decision making processes have enabled the country go up the ranks in terms of its preeminent global, economic position. Currently, China’s economic position is rapidly rising with some people considering the country as the global superpower. Comparative to the US political processes, China is precautious of accruing unnecessary public and government debt (Zakaria 4). In addition, China is also the biggest foreign holder of US debt. As at 2012, China’s public debt was 43.

5% of its GDP while its government debt was 25.84% of its GDP. These figures are indicative of the country’s exemplary political-economic decision processes, which serve to deter the country from accruing as much national debt as the US. Work Cited Zakaria, F. “How to Restore the American Dream.” Time Magazine. Web. 21 October. 2010.