Sandi: I would argue that much of the increase in the price of oil has to do with China’s energy demands as it’s economy expands. Look at the prices of steel, iron ore, and other materials and consumables. All are up, and considerably. To argue that the price of oil is up solely because of the Iraq war is somewhat specious, to say the least.
As far as Russia goes: It’s economic success is nearly all due to it’s energy exports. It is lapsing back into authoritarianism, it is corrupt and nearly entirely dependent on oil and natural gas exports for hard currency. It has no economy to speak of, and foreign investors are running for the exits.
In the case of both China and India, they have both experienced exponential growth. However, both of them are now suffering from overstretch. Labor costs have mushroomed in both countries, and both are hamstrung due to lack of qualified management and legal personnel. Neither economy can continue expanding at the present rate, and neither possesses a strong enough government, legal system or financial infrastructure to support future, sustained growth.
I can’t comment on Brazil, but if history is any indicator, Brazil is probably part of the same boom and bust cycle that most South American countries such as Venezuela, Brazil and Argentina find themselves part of periodically.
The “allies” we have alienated, such as Germany, France and Italy, are part of the same group that have done nothing to combat terrorism, or bear their fair share of responsibility for ensuring stability and order through either NATO or the UN. If I am going to entrust my security to someone, I doubt seriously it would be either the UN or the european security collective (CSCE).
