Asia's tiger economy may fail

DallasBlog.com | Tom Pauken II:

“Statements of possible gloom and doom sound out of synch in the Asian-Pacific region where nations like China and South Korea have shown such explosive growth in recent decades. But, Asia is not immune to a possible downturn in the world economy.”

Ed Cognoski responds:

Even the global Great Depression was only a temporary setback to American economic hegemony during the 20th Century -- the American Century. East Asia may experience periodic financial crises as its anachronistic interlocking business/family relationships (Japanese keiretsu, Korean chaebol, Hong Kong hongs, Taiwan guanxi qiye) evolve into more modern forms. But those crises won't upset the long-term trend. The 21st Century may be beginning as another American Century, but our political leadership is doing nothing to change the trend that predicts the 21st Century will end as the Asian Century.