I do think our expectations were wrong. I think that a chunk of our growth in the late 90s during the internet bubble was based on some people throwing money at things that weren't worth anything, and that when this crashed in 200/2001 we dropped interest rates and created a housing bubble that kept things afloat until it also crashed. We were also helped out a lot by China buying up a lot of debt in order to manage down its own currency, and cheap labour keeping prices of imports incredibly low.
Which isn't to say that we won't still grow, but I think that our growth will be lower than it was.
I do agree that the rest of the world catching up is a good thing. Both for them (for obvious reasons) and for us because it increases the size of the total markets we operate in, and will force a change in how the world operates.
![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
timeasmymeasure
no subject
Date: 2012-11-12 03:57 pm (UTC)Which isn't to say that we won't still grow, but I think that our growth will be lower than it was.
I do agree that the rest of the world catching up is a good thing. Both for them (for obvious reasons) and for us because it increases the size of the total markets we operate in, and will force a change in how the world operates.