I’ve written in “Market Fashions” post that there is a “new trend” in the global economy and consequently affecting the financial markets — “the transfer of wealth”. Where before, Western countries are the models of advancement in health, technology, business efficiency, and many areas of achievement, in the here and now, it is getting common to “research” the success of Asian economies, most notably, China.
Just look at the world-wide conversation (controversy?) stirred up by the article “Why Chinese Mothers Are Superior” in the Wall Street Journal” — on the book “Battle Hymn of the Tiger Mother” about raising certifiably A-grade children. (Author Amy Chua’s parents are both Chinese who first emigrated to the Philippines, then to the US, where Amy was born and brought up).
Anything with a whiff of the “The Asian Way” gets snatched up… (maybe I should add that in my book title hehehe)
Anyway, weeks of distressing news about Europe and US (paling in comparison to EU at the moment) has definitely ushered in the new Supermodels. Where Asia is growing causing rise of prices of goods (inflation), European countries is teetering in default (this means governments not being able to pay its debts and if that happens, no body would lend to them, and no money to pay government workers etc). Europe’s is in fact, asking China for money.
So I guess it’s official. China and its neighbors like Indonesia and South Korea are the new Supermodels.
That is such a big change in so short number of years (I mean you know, from centuries of Western dominance).
Read about “Why the West is losing out to the rest”
http://edition.cnn.com/2011/11/03/opinion/ferguson-west-economic-decline/index.html?iref=obnetwork#
