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China and India will make the west poorer?

August 25th, 2010

"The current financial crisis could bring about a change in the international economic order with countries like China and India becoming the dominant global economic powers."   The Chief Economist of one of the world's biggest banks, HSBC, believes Asia's rise poses a threat to prosperity in the West.

via BBC News - Hardtalk - Will a rich China make the west poorer?.

Really who would have guessed.  Be nice if he could tell us something we don't know.

[First published on my NotTheNews blog on specified date]