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Has anypne read Friedman's "The World Is Getting Flatter"? I haven't but I have read snippets. It's related.
To draw from it, the further the world becomes integrated (globalization) and interdependent, the more stable. For example, because China holds so many dollars it is in its interest to make sure the US dollar does not "crash", unless it's writing it off. Likewise, the more investments, FDI, not just trade but actual capital investments create a mutually interdependent situation.
The last time I was in Beijing, kids were wearing Air Jordans, sipping Frappacinnos and I saw three Ferraris zippin around. Britney ruled the airwaves alongside local acts and it seemed to me (my observation) that capitalism ruled the day.
Steakhouses and Californian wines are the new fad along with Hagen Daz (a US company). GM just opened a plant, IBM is now partially owned by China.
One way to look at it is that we created a new consumer base which is presumabley good for US (IMO).
I don't think there is any reason to panic but it is always good to be on our toes to stay competitive. THere is cooperation in there somewhere, I can feel it (again, my opinion).
But that doesn't mean I would be comfortable if China bought Boeing, Northrup Grumman, Lokheed, and Raytheon. In fact I'd probably freak out.
Good for the Chinese, it seems like they're learning the Yankee Doodle. Could democracy be next?
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