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This note of mine appears in another thread, but I think it should be separate ...

'What astounds me is the seeming lack of interest/attention by American Investors in the unfolding Economic Crisis in Western Europe - unfolding for at least 2 years - but now at a breath-taking edge of catastrophe.
I have been thinking for some time about the possible consequences of populist uprising, political instability, and the rise of demagogues and militarists in a fraught Europe, a never stable Africa holding vast resources, opportunistic Jihadists, a nuclear enabled Iran, and a rich China with almost unquenchable needs and a Totalitarian Government.'
...
When I wrote it I considered mention of the vulnerability of Australia with its tiny population of 23 Million and its vast resources. An article in today's Washington Post prompts me to add it ...

"Since last year, China has fed the worries of its neighbors with a string of aggressive diplomatic and military moves, including attention-grabbing confrontations in the South China Sea, which is believed to hold valuable oil and minerals and is heavily used for commercial shipping.
The area has been in dispute for decades, with various portions claimed by Vietnam, the Philippines, Malaysia, Brunei and Taiwan. China has made the largest claim, on a U-shaped section that covers almost the entire region.
China’s increasing willingness to throw its weight around has put other countries on edge and spurred them to solicit U.S. assistance.

… Underscoring growing concern over an aggressive China, President Obama announced a new agreement Wednesday to expand the U.S. military presence in Australia. (Nov. 16)"

This is the remainder of my previous post :

'Today I read a recent article in The Economist that raises the same question that I have been trying to understand myself, as I revisit the past of schooling that was inadequate ... 'How did World War I come about?'.
In the face of the Brinksmanship of some of Europe's Leaders, the profound disregard for the imperatives of viable economic systems, I feel an urgency to understand the past. What part chance, what part device ? How fragile the ties ? What unintended ?'


Writer Robert J. Samuelson's Opinion piece in the Washington Post yesterday references an Open Letter from Arvind Subramanian, of the Peterson Institute, to IMF Managing Director Christine Lagarde asking her to intervene in the European situation and to call upon China to take a vastly greater role in the IMF. Mr. Subramanian says to Ms. Lagarde ...

'I have written elsewhere that China needs to be given power in the IMF equivalent to that of the United States and greater than that of Europe. You need to convince China that you will make that argument forcefully and if necessary take on your erstwhile French colleagues if they resist. That is key. On this you must speak with conviction and daring.'

... This has the feel of a Chess Game.

Just my thoughts,
Toni
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