"That view: Don't get hot and bothered if the panel fails to deliver. The battles will just be fought again after the next election – and maybe on that day the side with the best ideas will have more political clout."
Most economists assume that the current bad economic times will turn around for the better, driven by the economic engine of all those thriving emerging nations like Brazil, China, India, and parts of Africa. But what if China ends up having the same kind of overheated economy that the West has had, and goes into a tailspin? Well, that would be bad.
The Atlantic magazine’s Max Fisher writes that China’s leaders never anticipated that the West – their biggest customer – would suddenly have difficulty buying its cheap goods. And now, China will have to adjust its economic model quickly in order to keep that officially-ordained 8 percent growth rate going, and to prevent unrest.