Showing posts from June 30, 2011

Don't write off the West and pin hopes on the Rest

Business Times - 01 Jul 2011 Don't write off the West and pin hopes only on the Rest By LEON HADAR WASHINGTON CORRESPONDENT MUCH has been said and written in recent years about the growing challenge to US geo-strategic and geo-economic status by China, BRIC (Brazil, Russia, India and China) and the other rising global powers, including South Africa, South Korea, and Turkey. Indeed, in the aftermath of the US military debacles in Iraq and Afghanistan, and especially since the financial meltdown and the ensuing Great Recession, small-time pundits as well as renowned futurologists have been predicting that the West is basically kaput and that the rest of the Twenty-First Century belongs to the 'Rest'. In this scenario, China replaces the US and the global hegemonic power sooner or later. As we study these America-is-finished-and-China- rules-the-world forecasts, it is important to recall that not so long ago many of the same pundits and futurologists were anticipating that glo