Many a times, I had said in previous articles that an economic power shift might take place globally.....Well, I really didnot have any historical ideas about provious such shifts........
Read this article :
http://chronicle.com/temp/reprint.php?id=477k3d8mh2wmtpc4b6h07p4hy9z83x18 by Scott Reynolds Nelson, who is a professor of history at the College of William and Mary.
The summary says that the current financial problems has a striking resemblance with the economic crisis in Europe in 1873 which led to a recession for 4 years and thereby saw a western shift in economic powers to US. The current debacle might see a further shift towards India and China......
No comments:
Post a Comment