Meanwhile, the global landscape is changing rapidly and very few people in the media or political world are talking about it.
Via STRATFOR:
But the financial crisis had its greatest impact in Europe, where it is triggering a generational shift. Since 1991, the idea of an integrated Europe has been a driving force of the global economy. As mentioned, it also has been presented as an implicit alternative to the United States as the global center of gravity.
Collectively, Europe’s economy was slightly larger than the U.S. economy. If mobilized, that inherent power made Europe a match for the United States. In the foreign policy arena, the Europeans prided themselves on a different approach to international affairs than the Americans used. This was based on a concept known as “soft power” — which relied on political and economic, as opposed to military, tools — an analog to the manner in which it saw itself managing the European Union. And Europe was a major consumer of goods, particularly Chinese goods. (It imported more of the latter than the United States did.) Taken together, Europe’s strengths and successes would allow it to redefine the international system — and the assumption for the past generation was that it was successful.
In the context of the ongoing European financial crisis, the issue is not simply whether the euro survives or whether Brussels regulators oversee aspects of the Italian economy. The fundamental issue is whether the core concepts of the European Union remain intact. It is obvious that the European Union that existed in 2007 is not the one that exists today. Its formal structure appears the same, but it does not function the same. The issues confronting it are radically different. Moreover, relations among the EU nations have a completely different dynamic. The question of what the European Union might become has been replaced by the question of whether it can survive. Some think of this as a temporary aberration. We see it as a permanent change in Europe, one with global consequences.
If the EU dissolves, not only will there be an economic void to fill, but there will be a political one as well. And if we don’t fill it, you know China will be more than happy to step in.
Issues like this are much more important to discuss, rather than the latest unsubstantiated political scandal.
Let’s see… The “solution” for Greece, in part, is a political measure that would have people rioting in the streets — and indeed, it has. Meanwhile, next door in Italy, the Prime Minister has resigned — no doubt putting a crimp on his ability to score with under-aged Italian women — because they’re gonna have to do the rioting thing too. Beyond that is Portugal and Ireland, by comparison small economies, but still big enough to cause pain. And then there is Spain, who is wobbling. Worse yet, they are all inter-connected, so one falling might cause another to fall, and then the combination would start to take out “solid” places like France.
Meanwhile, seen a lot of traffic about how China’s growth has slowed to the point where it might face civil unrest, as it must find 1 million new jobs in their cities each month to satisfy the demand from people coming from the countryside.
And best of all, we’re all connected together, aren’t we? (/sarcasm)
Good one!
All great points Geek. Another thing to consider, in 20 years or so China will start having demographic problems of there own (the old one child rule striking back) and India could become a player:
http://motorcitytimes.com/mct/2011/09/china-india-and-their-long-term-demographics/
Unless India gets involved in a nuclear ‘exchange’ with Pakistan of course.
All these things are much more important to discuss in light of the 2012 election rather than wasting time on the scandal of the hour.
Thanks for the great comment.