This thread is a wonderful departure from agonizing over every 1/8 move, seen in other threads.
I have a few comments.
How much of the Asian debacle is due to gradually eroding competitiveness of Malaysia,Thailand,Korea with China? China has been exporting in huge billions over the last say 5 year?
What happens when we have a true global economy,Who will bail whom out,doesn't the power of Central banks (the US central bank get reduced, Already alluded to in a book by Citibank ex Chairman some time ago.
At the present time the 'Western view' of Growth as progress etc is Ok, as any view that restores confidence is fine.
Since Japan China Korea etc constitute a biggish block of the planet's GDP,could they go on some kind of strike,ie not buy into the western view of the world, or at the minimum refuse to pay the IMF's 18%, in a kind of Mutually assured destruction in the economic sense.
Finally why don't the Samsung's of the world try something like fuel cells and hyper cars, instead of mindlessly pouring money in Drams and disk drives making it worse for all.The big three, the seven sisters and the steel industry will make it difficult for these technologies to succeed in the US,But a $50 billion chaebol of a 175$ billion whatisthejapaneseword like sumitomo,Mitsubishi etc. might make it happen.
Pl.see
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