Beiging, ya no Washington es quien decide en la economía global

Hoy los medios del mundo dirán que es un día histórico porque el ejército repúblicano irlandés dejó las armas. Yo digo que es un día histórico por otra razón: The Economist, la revista líder del capitalismo global, puso como su reportaje de portada como un país es el que decide en la economía mundial, y no es Estados Unidos. Tip: en lugar de escribir Wall Street en el indicador de calle que nombra ese famoso corredor de bancos en Manhattan escribió Great Wall (Gran Muralla).

"Beijing, not Washington, increasingly takes the decisions that affect workers, companies, financial markets and economies everywhere

GLOBAL tremors in the currency, bond and commodity markets greeted China's announcement that the yuan will no longer be pegged to the dollar. No longer is it just Washington that has the power to cause shockwaves. For many people, the tremors reflected the view that China is the root cause of America's trade deficit, and that the revaluation is a partial cure....

... Of course, China is not the only fast-growing emerging economy that is making waves around the world. But China really does loom much larger: its contribution to global GDP growth since 2000 has been almost twice as large as that of the next three biggest emerging economies, India, Brazil and Russia, combined. Moreover, there is another crucial reason why China's integration into the world economy is today having a bigger global impact than other emerging economies, or than Japan did during its period of rapid growth from the mid-1950s onwards. Uniquely, China combines a vast supply of cheap labour with an economy that is (for its size) unusually open to the rest of the world, in terms of trade and foreign direct investment. The sum of its total exports and imports of goods and services amounts to around 75% of China's GDP; in Japan, India and Brazil the figure is 25-30% (see chart 2). As a result, the dragon's awakening is more traumatic for the rest of the world..."

Y lo que viene. Parece que se acerca la hora de aprender chino...