C.Fred Bergster, of the Peterson Institute for International Economics and an old hand at global economics said "reverse coupling" is under way. US companies, such as IBM, GE and Caterpillar, see their US growth falling but their overseas growth in Asia and the Middle East rising even faster. So the faster-growing emerging markets are mitigating the decline in the US economy that is taking place because of the housing/subprime financial crisis.
This is all happening with another significant sectoral changeâ€"the true globalization of financial markets in the last five years. That means that the walls between emerging markets in Asia, the Middle Easgt and the US and Europe are down. There is a free flow of capital, labor and goods. This is accelerating the big shifts in wealth and ownershipâ€"and powerâ€"underway.
The final big shift taking place is the movement of wealth, ownership and power away from democratic governments toward non-democratic governments.