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The new superpower . . . .

February 23, 2005

The United States is no longer the most powerful nation in the world . . . . . . Why? Because they are not as influential as the oil in the Middle East.

An earthquake with a magnitude of 6.4 in the Richter Scale shook Iran yesterday. The result, the stocks tumbled in wall street and oil prices surged peaking at $ 51/barrel. In the past, there was one man I considered that can affect the stock market in the whole world, he was none other than Alan Greenspan. When the “Green Man” speaks, the market listens. Whatever he says affects the stocks in Wall street and anywhere around the globe.

But now, we find ourselves in a different realm. It appears that the market is playing a game, a very dangerous game. It goes: “Oil men says low, market says high. Oil man says ouch, market says ooooohhhhhh . . . .” The world economy is very dependent in oil. Therefore the world is very much dependent in the Middle East.

Whatever happens in the Arab region will definitely be felt all over the world. Throw a rock in the Middle East and the ripples will be seen around the planet. The current events are a living proof of this proposition. Just imagine, after a few days of market gain, a correcting loss ensued.
The prices of oil has no doubt has affected the world economy. But it has also changed the world order. Even if the strongest economy is that of the United States, economic influence  has now shifted to the direction of the Asian continent.

 So now, if I asked you who is the new superpower, what would you answer? Europe migh be emerging, U.S might be dictating, China may be moving, but the Middle East has definitely changed the world.

The new superpower? The camel in the sands of the desert . . . . . .


Posted by johnpaulaclan at 1:37 pm | permalink

Previous Comments

IC. That's why the Americans are planning to invade Iran.

Posted by masterbetong at February 23, 2005, 5:51 pm