A new world for America’s next president
Financial Times | Great economic manifesto
Whoever moves into the Oval Office in January 2009 will have to deal with a significantly different global economy from the one George W. Bush inherited just eight years earlier – and will need to forge a very different set of policies to address it. The most dramatic changes are that the emerging economies – most notably Brazil, Russia, India and China (the Brics) and the big oil exporters – now play a far greater role in the world economy than they did then, and that the US is now a great deal more dependent on their financial decisions, economic policies, capital and markets.

[full text in comments]