A global financial meltdown should absolutely not be considered a forgone conclusion. But if such an event occurred, it might be surprising how the global powers that be shake out. China faces significant domestic challenges and has become increasing tied to the U.S. financial system. If things head south, it may not be the relative “safe haven” so many now consider it.
Economists were probably too busy watching markets gyrate to contemplate last month’s big news in science. Physicists detected particles travelling faster than light, which, if the reading was accurate, means time travel is possible. Now, let’s play a quick mind experiment that would surely captivate the deans of the dismal science: Pretend you have just been transported 10 years into the future to see how this incipient global crisis pans out. It would be hard to find anyone who isn’t desperate to know.What if, a decade from now, the U.S. comes out the winner of today’s market chaos at the expense of Europe and China?
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