> But what's the evidence for the US rebound?
Using the population figures you gave the other day, 90's per capita growth for the US is 2.4%, for the EU 1.4%, and for Japan .7%. That is still not "almost equal" percap growth: the US is growing 70% faster than the EU over the decade and 3 times as fast as Japan, per cap.
Be that as it may, my general point is this: I can agree with everything you say about the strength of Eurocapital, and I also can (and do) think that Japan's position globally is much stronger fundamentally than generally believed. In short, I can certainly see "new constellations of domination [and growth] on the horizon"--and *still* think that the (perhaps waxing) forms of US strength still have disproportionate effects. I don't see the contradiction involved.
--Christian