Clinton's Trip To Asia Underscores Importance Of Rising East

The countries that Secretary Clinton will visit, beginning Monday, reflect the variety in the kinds of relations the United States has in Asia: There are longtime allies Japan and South Korea, bridge-building to the Muslim world represented by Indonesia, and management of China's rise as global power.

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Comments

[leonel]

Re previous post, the name is Gabor Steingart. Sorry I misspelled. The book is THE WAR FOR WEALTH.

[leonel]

If you want to know what is the best overall account of US and China economic relationship, read book by Steinhart, a writer for der Spiegel. Check Real Clear Politics for some of his articles. I tried to do a comment on it earlier but it got lost. The US and China were headed for crises of their own making. US debt crisis happened sooner than even book probably expected. US has almost destroyed its industrial sector and has been keeping up by use of credit. Now we need a renaissance. My added point is that Obama has to figure out how to resolve Middle East conflicts. Rest of world is as critical of US as US is critical of China's lack of democracy. Clinton can play a big part by conveying the message and insights in this book.

[dgscol]

Even the IMF sees US banking as a serious threat to global economic growth. Although I feel the need for fair and balanced trade with China is a top priority, I agree the banks need to be broken up and personnel replaced with people who are responsible, or foreign banks that are properly managed may take their place eventually in the global arena.