[lbo-talk] Will the Semi-periphery Lead the Recovery?

[dredmond at efn.org]

OK, finally some good news:

http://www.bloomberg.com/apps/news?pid=20601091&sid=aMq6YRJVeb6Q
"BRICs Add $60 Billion Reserves as Zhou Derides Dollar"

This is interesting, because while the BRICs are only 15% of the world
economy, they are structurally tied through trade, capital and media flows
to their respective semi-peripheries (probably 10% of global GDP). Their
recovery means that a quarter of the world economy -- and the
fastest-growing segment, at that -- is on the mend. Geithner's zombie
banks will continue to fester, but it looks like this will be a
containable, US-only problem.

Or am I being too optimistic? Comments/critiques welcome!

-- DRR