In this second thread I will try describe how this crisis is making evolve the global society and economy, what I have called here several times the new civilization. In particular the three different sort of roles or functions that will lead each country.
Previously, I have to pay a few words to describe the current situation. "The current crisis marked the end of the American lifestyle and the end of Asia's growth model" (*). Reshaping the two main elements of any economy financial system and economic structure. Both, the global financial system and the global economic structure are reshaping. Regarding the global economic structure, along the past three centuries the global economic structure has been divided into developed and developing economies. Developing economies have supplied commodities and cheap work-force in form of migrant workers to developed economies, and also cheap goods along the past 20 or 30 years. In return, developed economies (USA, Europe and later Japan) had the responsibility to supply ways to improve the efficiency of developing economies in form of expertise, know-how, technology, etc. Somehow, great innovations in technology, expertise and know-how is what had made the humankind as a whole to walk ahead along the maturity path. Each individual society has walked ahead as much as it has adopted those new technologies, know-how, precedures, etc. Three centuries ago was expertise on how to use coal as source of energy, electricity, transportation (railway), etc. 60 years ago know-how and technologies about oil reshaped that society, 30 years ago information and communication technologies, etc. And it ended up there. And therefore, Asian export model is dead as much as American-European consumption model is dead. Regarding the financial system, until WW2 each metropolis and its colonies shared each particular metropolitan curency, since WW2 the US dollar had that mission globally. It is clear that US dollar cannot play that role much longer (**). Other currencies are playing that de facto role depending on their main-client-economy, I mean depending on the country which supports the higher weight of trade. For Eastern Europe, the de facto standard currency is the Euro, for Central Asia in the Russian ruble, for the ASEAN starts to be the Chinese yuan, etc. I told several times that we have to expect economic and social blocs or regions. Both Malaysia and Australia will be into the same bloc. In fact, they both are already in the same bloc. I will describe that in my next message in this thread. Peace and best wishes. Xi (*) http://news.xinhuanet.com/english/2009-03/24/content_11065965.htm (**) http://www.bloomberg.com/apps/news?pid=20601087&sid=aiS1BUOMzWdw&refer=home --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. To post to this group, send email to world-thread@googlegroups.com To unsubscribe from this group, send email to world-thread+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/world-thread?hl=en -~----------~----~----~----~------~----~------~--~---
