Economic Divergence - finally a reality?
The Economist on the apparent V-shaped recovery of China and India amidst continued recession in the G8 countries.
Divergence was the concept that one day the big economies of the developing world would develop into true "continental economies" a la western Europe or the US --- that their economies had grown wealthy and diverse enough to generate their own economic cycles independent of the West, and that they did not depend upon either exports or currency flows to or from the West for their economic health.
Looks like this crisis may finally have brought this moment into focus. Thoughts?
Maybe not that big a worry.
I could make the point that a strong economy can provide a pampered military. We -- DoD -- have beaucoup money; whether it is spent wisely is another issue for another thread. What is emphatically true is that we have survived lean economic times before and can do so again. Not all bad, encourages innovation and reduces the bureaucracy. :cool:
MRAPS come to mind...