What can $9B buy these days?

ARTICLE: Saudis Pay 4.43 Billion Pounds for 72 Eurofighters, By Emmet Oliver and Massoud A. Derhally, Bloomberg, September 17, 2007

ARTICLE: Russia Buys Right to Restore Iraq For $9 billion, Kommersant, Sep. 20, 2007

Fascinating. Been saying for a while we should have/could have outsourced the reconstruction to New Cores like Russia, India, China.

Was bound to happen.

Scary to some, but to me a harbinger of future allies in our goal of shrinking the Gap.

(Thanks: Matthew Garcia)

Comments

[M. Garcia]

You might say that this is exactly what we've done in Africa. Virtually ignored since the end of the Cold War, now China steps in and funds "reconstruction" after all that institutional neglect and ideological confusion. We've unintentionally, unwittingly, outsourced much of Africa's inevitable development to the Chinese. For once, American ignorance might turn out OK, though we might have done better ourselves by reversing our ignorance and taking notice twenty or forty years ago. At least China's rise will be well-supported in natural resources, and that's good for everyone.

[Mike Gala]

Tom,In light of recent conjecture on a looming recession, suppose recession longer than Japan's 90's, can you defend narrowing the Gap from the possible solution that spinning globalization is a way for privite interest to sell a load of international debt Enron style? And, in fact instead of filling the Gap--excuse me--closing the Gap, we are opening the rest of the world--or emptying it--emptying namely the pockets of wealth?

[Tom Barnett]

Mike,

Your question assumes a zero-sum perspective.

I would start with your own views of capitalism in general rather than feel any need to defend my vision against such binary, zero-sum definitions of progress.

In sum, I'm guessing you've never been an entrepreneur.