"In January 2009, when I started writing the book China and the Credit Crisis: the emergence of a new world order, I could see that the financial crash of September and October 2008 had seriously weakened US financial power, and that some big changes would follow as a result. What I did not know then was how long these changes would take, nor did I realize that Europe had been as badly affected as the US by the boom and bust of the first eight years of the millennium. . .
Whether this new world order turns out to be better and more stable than the one it replaces depends on the wisdom and far-sightedness of its leaders. Among these China will count as pre-eminent."
See the complete editorial at http://usa.chinadaily.com.cn/weekly/2012-06/22/content_15518521.htm
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