The World Bank today marked the end of the US/UK economic stronghold and of the Dollar as the only reserve currency. The line of thought is that the "credit crunch" has elevated the positions of China and India from being those of emerging economies to actual global economic leaders. Over the next 20 years their power is expected to grow, with other currencies such as the Euro being drafted-in as substitutes for the Dollar.
What does this means for the traditional Western economy? My thought is that too many Western people/businesses will power in to China and India in a manner akin to the US Gold Rush; but this high risk/reward strategy will work for only a few. Opportunity exists no doubt and as Napoleon said "Ability is nothing without Opportunity" whereas I pose the question:
What is opportunity without ability?
Too many will see £££ or $$$ and proceed without caution. I would not be surprised to see an Eastern crisis in say 10 years time.
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