Saturday, August 11, 2007

China Shakes the World - Part 2

After finally completing this book, it is a good eye opener to realize how China is like Japan during its boom period and how China is different in avoiding the mistake Japan made. It is also interesting in how China capitalizes energy commitments from countries like Venezuela, Sudan, Iran that are already try to look for safe-havens other than US. It is also a dichotomy that China's bulk of the population is still to come out of the poverty zone while the country has close to 1 Trillian dollars in its reserve.

While hot discussions around global warming grow hot on one side, it is also scary that China and India are just on their initial stages of enjoying the economic fruits that is positioned on a different tangent to the environment needs. It's ironic that time, usually a medicine for most of the issues, could be a threat to today's unanswered complicated issues. The economic weapon controlling neo world is well buttressed by the internet that grows faster, wider and deeper demeaning the physical national boundaries.

As the book says, it takes countries like China and India to develop in half the time that it took for America. And it is natural that these changes reflect themselves on the business cycles that orient around them.