The Very Long View Of Europe
By Cam Hui:
When I vote in an election, I give very little weight to a politician or party's stated policies. Instead I look at the candidate's overall philosophy to see how he or she would govern. Politicians change their minds. What's more important is how they would behave when circumstances change.In the same vein, I apply a similar analysis to the eurozone crisis. The BBC had an excellent analysis of the very long view of Europe and outlined its challenges [emphasis added]:
A hundred and fifty years ago, around 1861, China and Japan both collapsed as Western gunships and financiers pushed into East Asia. Nothing Japan or China could have done would have stopped the rise of Western wealth and power. How they reacted to that rise, however, made all the difference between triumph and tragedy.
China's rulers borrowed heavily from overseas, squandered the capital, and fell into dependency. Japan's rulersComplete Story »