Martin Jacques’ When China Rules The World: The End of The Western World and the Birth of a New Global Order (Penguin Press/ Nov 2009) carries a provocative title, but it should not be a surprise. Anyone can see this outcome coming by simply projecting economic growth in the U.S. and China at roughly their current rates; Goldman Sachs gave such conclusions credibility in 2007 when it concluded that China would surpass U.S. GDP in 2027, and double it by 2050. Jacques’ book suffers not from an overly wild imagination, but from taking entirely too long to get this already obvious conclusion, and then not exploring enough about what that means for either Britain (his nation) or the U.S.A.
Voter thinking this Tuesday focused on jobs and the economy, and sent a clear message of dissatisfaction with economic progress to-date. Reinvigorating Main Street America’s employment picture, however, will not be easy. Problems have been building for years, long before the sub-prime crisis. Some believe automation is the major source of recent job losses. However, it is difficult to look at the constant parade of long trains carrying shipping containers inland, or the millions of illegals turning up all across America, and conclude that this is the case.