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Obama at the G8 — Follow the Money by Mallory Factor

July 10, 2009

Mallory Factor – – July 09, 2009
Obama at the G8 — Follow the Money

Forget the photo-ops at the G8. In 2009 there are only two kinds of nations — creditor nations and debtor nations. Guess who wields the real power…

The global stage may appear complex but, as I’ve said before, there are really just two kinds of players on it in 2009: creditor nations and debtor nations. Who are they? They are oil-rich Islamic states such as Saudi Arabia and Kuwait and resource-rich, autocratic states such as China and Russia who have developed huge holdings in Western currency, debt, and industries. And they are Western governments who have slipped deeper and deeper into debt. Though Saudi Arabia, Kuwait, China, Russia are not richer than the United States or other Western nations, they are now the creditors of those nations. And that means the balance of power, all over the world, is shifting. A new relationship is emerging, one that no longer favors the nations of the G8 (with Russia, perhaps, being the exception).

[Get the rest of the story here]

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3 Comments leave one →
  1. July 10, 2009 5:28 AM

    You have a nice site! Great information!

  2. weswolfe permalink
    July 10, 2009 7:14 AM

    That’s some serious irony. Mallory Factor saying “follow the money.” Ha!

  3. July 10, 2009 1:58 PM

    Michelle, thanks we try, can always do better and will…

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