Look east

In Chapter Nine of The Noughties I covered the dramatic economic shifts that took place in the decade, mostly to the advantage of China, India and other nations we still insist on describing as ‘developing’. Further hints that the next decade could see Asia pushing ahead of Europe as a global financial centre: business confidence in Shanghai and Mumbai makes London and New York look timorous.

Snuffles

In The Noughties, I argued that the real beginning and end of the decade occurred within a few blocks of each other, in New York. As the Dubai economy stumbles, could we be seeing the beginning of the next decade, when it’s what happens in Asia and the Middle East – rather than the tired old West – that really grabs our attention? When Dubai sneezes, how many of us are going to catch a cold?

PS: Charlie Brooker addresses the essential preposterousness of the whole thing.

Brain gain

Further proof (see Chapter Nine of The Noughties) of the inexorable rise of Asia. The latest international university rankings show that, although American and British institutions still dominate, the Asian complement increases: the universities of Tokyo and Hong Kong are at 22 and 24; US representation in the top 100 falls from 42 universities to 36. The phrase “snapping at the heels” appears, as it seems to do in any discussion of Asia’s status in the world.