Comment Re:under the acta google will be down in less then (Score 1) 247
There are many countries with cheap labor and resources that would love the ability to get a huge influx in technology -- because obviously any technology that is manufactured there is essentially transferred there (at very least, there's easy access for local reverse engineers; at very most, they directly gain the formula for implementing a particular technology). Additionally, easy access to local high-tech manufacturing would definitely catalyze local R&D efforts.
I doubt too many countries would be put off by the US defaulting on debt if China called it all in at once. The answer is to not call in the debt, but rather to continue to benefit from each other for as long as possible -- that's where the real gain is. In fact, China's electronics and manufacturing sector has exploded in large part due to the excessive demand from the US, and they are definitely better off because of it even if they don't get any of their US$ loans back. Many other countries would like the same situation for themselves.
Say what you want about the US... though we don't manufacture many products anymore, we certainly still manufacture a whole lot of technology design, code, etc... all of which falls under the category of IP. It's just that it's a lot harder to quantify those exports, since they're much more subjective than "X quantity of materials valued at $Y each." I'm not so stupid as to think the US is special -- any country could do the same given the resources and conditions we have. The US just happened to do the "right" things at the right time, and that is still the case when it comes to technology R&D (though this could change if our education system continues to deteriorate).
That's not to say that the rest of the world can't do the same, but the US certainly is still a leader in technology research and development.
Anyways, I never said I'm in favor of The Way Things Are(tm)... but that doesn't change the facts.
Even in a highly-globalized environment, I think you'll find that most citizens of any given country still focus on their local lives, their profession, their hobbies, etc, and have very little say in their country's economic strategies. I don't think any of the letters I've ever written to my government representatives have ever made a significant impact. All we can really do is observe, focus on our interests, try to alter our behavior to reflect how we think the world should be, and not get that involved unless things start to go really, really wrong.