“Based on current trends China’s economy will overtake America’s in purchasing power terms within the next few years . . . The US is now no longer the world’s sole economic superpower and indeed its share of world output . . . has slipped below the 20% level which we have seen was a useful sign historically of a single dominant economic superpower.” (“America is very close to losing its place in the world as #1.” Deutsche Bank’s Jim Reid is quoted.)
Rapidly gaining on the US is China. “Reid offered this prescient quote from Napoleon Bonaparte: ‘Let China sleep, for when she awakes, she will shake the world.’”
Turkey is key to dealing with ISIS.
This Middle Eastern nation is the second biggest military power in NATO and is a long-term US ally. But its new president, former prime minister, Recep Tayyip Erdogan, is not the secularist his predecessors have been. Rather, he’s a more religious Sunni Muslim. As ISIS is Sunni, Erdogan’s loyalty to the US is now in doubt. This is serious for the United States – American nuclear missiles are based in the country.
Turkey was also a long time friend of Israel. Erdogan is now comparing Israel to Hitler.
CBS’s security expert, Michael Morrell, said Monday that there are four Islamic terrorist groups that seriously threaten the West. He said that ISIS is not the greatest threat. That accolade goes to ‘Al-Qaeda in the Yemen.’
Scotland votes tomorrow on breaking away from the United Kingdom. According to opinion polls, the two sides are running neck and neck. If the “Yes” vote wins, there will likely be a financial upheaval. Already, the Royal Bank of Scotland, once the world’s biggest bank, is saying it will move its HQ from Scotland to London. Other big companies have also said they will head south.
Scotland depends on London for roughly 10% of its spending, money that will no longer be forthcoming. Additionally, breaking away from the UK will leave Scotland with no currency – it will have to join the eurozone, giving Germany effective control over government spending.
Assuming a “yes” vote, there will be eighteen months of discussions aimed at a manageable divorce, before the new country receives its independence.
The Obama Administration is sending 3,000 US troops to West Africa, mainly Liberia.
The same administration reluctantly agreed to send 500 military advisers to Iraq to train Iraqis to fight ISIS.
Which poses the greatest threat to the United States, ISIS or Ebola?