The Rise of South-South Trade

Economy Watch:  David Wessel in the WSJ has an interesting piece on the rise of South-South trade.  Chinese and Indian know-how and manufacturing, powered by Middle Eastern energy and African raw materials, but also including Chinese and Indian investment into African countries into wireless carriers and the like.  He suggests that perhaps they don’t need us Northerners anymore.  It’s an exciting new phase of globalization, but last I checked, its the northerners inventing and buying the high tech goods made in China and India, and dollar and euro reserves fuelling China’s preposterous monetary bubble…

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