Appearance and reality

When I wrote about Fareed Zakaria's tacit celebration of the waning of American leadership in the world, here, I should have considered the multiple economic crashes that have been reverberating around the world. Spengler, on Asia times, reflects upon the same:

Faddish conventional wisdom over the past few years held that American influence was fading as technology radiated to the far reaches of the world. When America's economy went into a ditch, though, the supposed economic superpowers of the future went flying, like children on skates holding onto the back of truck.