French Foreign Minister Bernard Kouchner claims that the “magic is over” for America’s image overseas.
Is he right?
Certainly the politics of George W. Bush has caused great damage to America’s standing in the world. And other events have also chipped away at it in recent years: lots of anti-Americans delighted in the images of Hurricane Katrina making the US look like a 3rd world country unable to organize its own relief; and who hasn’t been awed by the incredible devaluation of the Dollar in recent months?
Nothing is certain in either way, but there are some very strong arguments for why the US will continue to be a global leader for many years to come.
To me one of the most powerful is that America’s commercial strength is deep, far deeper than what statistics or exchange rates show. I see this list today in Forbes on the top 10 cities in which to do business. Not one of those cities is New York or Chicago or LA or San Fransisco or Dallas or Miami….and yet all are business-friendly, growing quickly, and competing fiercely to attract skilled labor and capital.
The sheer wealth of human and capital assets embedded deep within America is a source of tremendous staying power in any crisis. America’s got problems, but I think it’s completely misguided to write it off.
