gone silver

Here is the highlight of my weekend- the first piece of the FT's in-depth exploration of the BRIC's (Brazil, Russia, India and China). This article by Alan Beattie tracks individually unique trajectories toward economic development and what each country's rise means for the existing balance.


Beattie asks, "So as the world emerges from recession, is this a transformational moment when the centre of gravity in the global economy and its governance decisively shifts? Is this a pivot point such as the second world war, where the confident, innovative US muscled aside the weakened, debt-laden economies of Europe and remade the global financial architecture? And, most immediately, are Bric consumers up to the task of rebalancing the world economy by supplanting their acquisitive American counterparts?

"The most likely answer is: not yet."
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Indonesia has erected a statue of Barack Obama to mixed reviews from the public.


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The Obama administration and congressional Democrats have reached a deal to create an independent budget commission to manage the behemoth federal entitlements programs-Medicare, Medicaid and Social Security. The agreement was reached during a Tuesday night meeting between the President, Orszag, Reid, Pelosi and Hoyer.
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