MemeStreams | Let Us Pray

The most striking thing about being in Asia today is hearing how much more important China's growth engine has become for companies all across the region -- and well beyond it.

To some degree the world is getting hooked on China. The more hooked we become, the less the world can tolerate any sort of prolonged instability there. If the China bubble bursts, it will be the mother of all burst bubbles.

If a client owes you $1,000, that's his problem. If a client owes you $1 million, that's your problem. China's stability is our problem.

[ Indeed, Robert Wright makes this point in Nonzero... as we become more interconnected, our fates become tied, and our incentive to find non-zero-sum solutions is increased because their benefit is our benefit. Any impulse to screw the other guy is curbed somewhat by the knowledge that we'd be screwing ourselves.

edit : I memed another relevant Wright article from 9/02 in the NYT, here : http://www.memestreams.net/users/k/blogid4009497

He mentions China in his analysis of the Bush foreign policy/national security plan relaeased about that time.

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To jump topic a bit, I'm gonna re-recommend that book... as a long time cynic, but global optimist, this book has been massively reassuring, and very compelling. I generally think individuals are often stupid or selfish, but that humans, in total, tend to act in positive ways over enough time. I feel that this book has started explaining why i've had that impression for so many years... get a copy if you're into such things... -k]

Let Us Pray