Anthony Brown's article in the British Daily Mail does an excellent job surveying the ascendancy of China and the corresponding descent of the United Sates and Europe. This phenomena is more and more in the news, as well it should be, and this article joins others in specifying the facts. (HT: Drudge) A quote:
China is spending 35 times as much on crude oil as it did eight years ago, and 23 times as much on copper.
As it builds gleaming skyscrapers on its fields, China alone consumes half the world's cement and a third of its steel.
What is happening is so extraordinary that economists have had to invent a new word for it - this is not an economic cycle, but a supercycle, a shift in the world economy of historic proportions.
Me: I can remember in the early 70's certain of my friends and I clearly saw the future belonging to Asia. If Christian faith continues to grow in China and India, then there can be added to these cultures some of the West's most positive heritage - a concern for the freedom of the individual, the sanctity of life, and human rights in general. I hope it will be so.