For the past century, the normal headline would have read " Markets stabilize as US makes positive remarks about Europe." But the headline today read "Markets stabilize as China makes positive remarks about Europe." That headline is showing the world how leadership in global finance is shifting away from the US and towards China.
Are we losing our touch or is China simply gaining theirs? I'm thinking it is a combination. Our current financial leaders have shown a personal greed that has endangered our standing at the top. In the last 20 years, China's financial leaders have had a more leadership, less personal profit focus that has put them in a stronger financial leadership position than before. They haven't eclipsed us yet, but it could happen. We need to have a less personal profit, more leadership focus from our financial leaders.
The headline says it all. It would be nice if we could get back to that.