...and that China, Dubai, Brazil, India, Russia, UAE, Taiwan, Korea and just about anywhere BUT the U.S. are the places to invest one's money - to capitalize on the huge economic boom to follow (or follow through), and reap mind-boggling returns. Here's a story in Bloomberg about the Russians in London with 8 figure annual incomes that are in desperate need of butlers. http://www.bloomberg.com/apps/news?pid=20601093&sid=aceQtvBwh7t0&refer=home And here's a column about the untapped wealth to come from the GCC states (Gulf Cooperation Council): http://www.bloomberg.com/apps/news?pid=20601039&sid=aWGWm4vRXLIA&refer=home The Economist magazine recently had a massive and well-written article on the rise of China as the unquestioned new center of commerce and economic power in the 21st and 22nd centuries (anyone want to venture 23rd, 24th?). So, is decoupling a myth, the truth, and what will become of the thesis that this time frame represents the fall of the American and Western European Empires?
Commerce is a reflexive process. I personally believe decoupling is false, China is linked to the world economy. We're probably focusing on the wrong data. 22nd century? Who cares, what matters is the next year. We'll see..
The problem is US and Western populations have devoted more resources of time and money to working real hard and having lots of fun i.e. spending. This lead to decreasing population growth rates and result is in 20 years majority of US and Canadian population will be elderly folks who do not contribute like 20-30 year olds to production and consumption rates. India has 70% folks who are in 35 age group, Brazil and China are not behind. There is new focus towards consumption and owning 'comfort goodies', a new status symbol. Also, population growth rates are still healthy. Do not know if Russia is in the same bracket. There was birth rate depression in 90s and early part of this decade and it has to be seen if Russia can maintain its economic growth rates even after the oil and commodity bull has taken to its cyclical rest. Does anyone wonder why nations like US, Canada, France, UK are not so gung-ho about turning heat on the immigration arrivals. In 30-50 years, Western Europe will be Euarabia and majority population in US will be Hispanics. Changing times!
the US household has extracted money out of housing and this event led to all of the so called GDP since 2001... there's nothing but air to hold up the economy now, since the Joe12Pack is busted broke and in the hole