Old vs new: US & China reinventing systems amid upheavals

Simultaneous titanic domestic economic struggles are currently underway in the United States, China and the Philippines that will redefine their trajectories in the political and economic worlds for the next decade. Will these internal revolutions cause the countries to advance or decline?

The US is facing a dual financial crisis that may lead to a shutdown of government and a credit default, a first for the US, which will lead to recession, unemployment, and nonpayment of pensions and other obligations. A global financial turmoil will ensue akin to 2008 and lead to massive weakening of the faith in the US dollar and financial systems — unless the legislature approves the lifting of the ceiling on government borrowing above $28.4 trillion already owed by the US this October 18.