> Doug replied:
> That's a completely different analysis.
I don't see how it's separate. "Our" wealth comes from the normal operation of the world economy, which is now mature, leaving very little or no room for new Japans. As such, the further normal operation of the world economy requires all the players to accept their current positions within that economy -- i.e., that all or nearly all the poor nations stay poor. The latter is a precondition of continued G7 affluence. Barring a radical global redistribution of purchasing power, new Japans can only emerge at the expense of the G7 powers, who all labor to ensure that this won't happen, not least through the IMF.