It is an interesting experience being proved right when you'd rather not have been . . . .

A friend sends me a message today, referring to a book review that I wrote about 3 years ago (the material in the SINGLE quote marks below was from the book being reviewed, the rest is my comments):

"Just took a look at your review again - esp. the points below:

1. If the U.S.–the engine that drives the global economy at present–stalls, will a global crash occur before India and China have any possibility of taking over hegemony from the U.S.?

2. 'The consequences of the relocation process (of manufacturing and services to countries such as China and Inda) remain unfathomable, momentous.'
So far as I can see, however, the consequences are entirely clear, and they provide our globalizing world with two choices. We can continue down the current path, which will lead to probably irresolvable global crises. Or we can create a sensible financial system based on sound money, and bring in a genuinely level global playing field with minimum common rules for health, safety, pay, environmental care, transparency and corporate governance. That is the only way to build a world society that is more just, sustainable and humane.

Lots here, three years later - esp. on US stalling, irresolvable global crises and the need for sensible, sound money."

I hadn't really thought about my having said all that three years ago (and earlier, in other material).

Feels gratifying to have been proved right; though I would rather have been wrong, for the sake of all those whose pensions and indeed lives have disappeared or are disappearing before their eyes.

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Prabhu Guptara