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What are the future paths of the economies of different parts of the world?

• I have to write a report fro economics about the current and future state of the economies in different parts of the world and I wanted to know if I am missing or am wrong about anything. This is my understanding: North America Canada(where I am from)- Commodity boom from oil and lumber due to demand from China, suffering from Dutch disease and probably won`t improve and will continue becoming China raw materials cow. But, we`ll always be better off. United States- Up to their eyeballs in debt, manufacturing base is completely gone, high unemployment, large trade deficits however there is some the dumb *** Americans wake up from ignorance and stop the corruption in their government institutions they can rebound in 20-30 years by doing what Germany did which was specialize in niche markets in the manufacturing sector such ( high-end cars) and leave the cheap manufacturing to Asia. They also have abundant some natural resources that they haven`t developed such as natural gas and lumber which they could sell to China. Bottom line: They need to stop fighting China and start selling to China. When they recover they certainly won`t be calling the shots. Mexico: growing middle class due to their booming manufacturing sector however the oil is drying up and their government is very corrupt so not everyone is benefiting from this economic boom. Central America- Most of them are not improving except for Cost Rica but that is mostly because tourism which isn`t a stable industry. Panama is enjoying stable growth because of their canal. South America- Brazil is booming and is member of the BRIC. China loves Brazilian goods and this is a good thing. However, Brazil manufacturing while improving is still small and I don`t see it growing much and will probably stay China`s resource cow for a long time. Argentina is becoming too protectionist so, who knows what will happen to them next.Columbia and Venezuela are also rowing rapidly because of their commodities. Chile and Uruguay are enjoying stable growth and the rest of the South America is impoverished and staying that way. Europe- All of the countries in the European Union are doomed except Germany and maybe France of course. They have nothing to sell to other countries and are so much in debt and don`t see a silver lining. Germany is smart( as always) and feeding the rich Chinese with their expensive cars. The UK has nothing to offer and are too dependent on their financial services they are probably doomed to. Eastern Europe while impoverished has hope because of Russia. Scandinavia and Switzerland and Austria are stable as always. Russia selling commodities to China and growing rapidly in the process. Africa- Probably going to becoming the next China and cheap manufacturing will go there. They are also very resource rich and will probably export commodities to the BRICS. Asia China- Screw the US, China is the largest economy in the world and is growing rapidly. They dominate global manufacturing and as their customer(North America and Europe) are faltering China is starting to increase its domestic market so, it doesn`t have to rely on exports as much. I see no end to Chinese prosperity but nothing lasts forever. Japan is going through hard times but most of the debt they have is owed to their banks and not foreign countries like the US and Japan is resilient and will probably make it through eventually.Korea is becoming stable selling techonolgy to its neighbours. India is booming by selling services to other countries and I suspect that they will dominate the IT and tech industries in the enextcentury. Australia: stable mostly because selling minerals to China. It will probably continue.

• Answer:

  Perfect. That's exactly the way the economy of the countries described by you are.