http://www.breitbart.com/article.php?id=081006110653.q6nnqf0d&show_article=1
The article gives an overview of how the recent turmoil in the financial markets is not limited to America. The stock market recently dropped below 10,000 for the first time in four years. Analysts say that the main reason for this has been a recent drop in world markets, which is also being perpetuated by the recent weeks of turmoil in the American markets. Relating this issue back politics, my question lies in which candidate would not be the most effective in calming the nerves of American investors, but which would be the more effective person to help calm the foreign markets? For example, this could be achieved either through which candidate is perceived "better" by foreigners, or who has a stronger foreign economic plan.
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I think that's a really interesting idea. So much focus has been exclusively on America's economy, but our relations with foreign countries are just as important. Due to the current state of the economy, American corporations can not afford to import as many goods as when the economy was stronger, therefore weakening foreign economies because they are not receiving as much income as before. So clearly foreign countries are going to need to have their worries consoled about doing business with America, and as to who is the better person to do that job, it's hard to say. McCain has plenty of overseas experience and advocates about breaking down cultural barriers and simplifying trade between the U.S. and outside countries. Obama, on the other hand, may have the upper hand because a lot of foreign countries may feel more comfortable with Obama because of his heritage, or maybe his strong opposition to the war in Iraq and demands to get troops out immediately. I personally think that Obama may be stronger here, especially because many people may relate McCain with Bush, putting a damper on his campaign greatly.
I do not think that the stock market failing will only affect America. Since the U.S isn't doing well financially, they are going to try to stop spending the money that they do not have. This means that the U.S is going to spend less money on foreign goods and the foreign market. So the markets of other nations are going to be negatively affected as well. To me, McCain seems like the better candidtae to help with foreign affairs. He has had a lot more experience with dealing with foreign diplomats. He needs to be able to convince foreign leaders that America's crisis will affect them too because so far the U.S has not received any help from any of its allies.
It is definately very interesting to watch which presidential candidate is supported by foreign countries. Many people often forget how much of an effect the American economy can have on other countries. Americans often look back at the Great Depression and only see the devastating effects it has on our country. However, very few people realize it also had a huge negative impact on the economies of foreign countries, including Australia, Canada, France, Germany, Latin America, the United Kingdom, and etc... Because America's economy is so globally connected, especially in present day society, foreign countries tend to have their own preferences for president of the United States. I agree with Ryan in that Obama is more warmly recieved than McCain by the international community. It seems as though McCain's foreign policy is too similar to the the current administrations', and we can all agree not many foreign countries are supportive of the United States recent foreign affairs. However, I do not believe Obama's heritage is reason enough for international support. Rather, I believe it is the Republican party's difficulty in focusing a campaign on change from the current administration.
To Ryan's point, I think the main reason foreigners support Obama so much more than McCain is because of how closely McCain is connected to the current administration. Given Bush's approval rating here, and overseas, it's easy to see why. The war in Iraq is incredibly unfavorable, and his determination to continue it will certainly not help with his popularity.
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