Michael Johnston submits: In the wake of the most recent global economic downturn, there has been a monumental reshuffling atop the global totem pole. The emerging markets of the world have–well, emerged–as the clear leaders in a new global economy, returning to impressive growth rates as developed economies battle still-rising unemployment, deflation, fiscal crises, and a host of other economic roadblocks. China has seen its importance on the global economic stage surge, thanks to its status as one of the major trade partners of numerous countries. Developments from Beijing are now closely analyzed by investors around the globe, signaling departure from the U.S.-centric days of the past. China is now nipping at the heels of Japan for the title of the world’s second-largest economy, and most economists anticipate that it is only a matter of time before the U.S. is overtaken as well. Complete Story
