Power trends for 2007/8

A Power Shift- review from Business Week

Of course, given the wealth that was generated overseas in countries ranging from Russia to Dubai, the U.S. could be on the verge of a seismic shift, where it is possible to envision a time when it will no longer be the dominant economic superpower. True, it still has the world's largest economy, but others are catching up. China is clocking in its fifth consecutive year of double-digit growth, with gross domestic product expected to grow more than 11.5% in 2007. A swelling trade surplus has contributed to massive foreign exchange reserves of more than $1.4 trillion. India is seeing 9% growth. Russia and the Middle East, even Venezuela, are basking in the reflected glow of vast oil reserves, and they are using that wealth to assert their own economic independence and national direction. But there are hopeful signs. In addition to the blossoming of green technology, Led Zeppelin, the Police, and Van Halen all got back together to the delight of millions of fans around the world. Too bad about Britney, though.

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