Thomas L. Friedman Quote
Robots can now milk cows. Oil prices have fallen globally, meaning both the petro-states and those indirectly propped up by them are weakened. At the same time, slower growth in China has lately shrunk its voracious appetite for African, Australian, and Latin American commodities. China accounted for more than a third of global growth in recent years, and its growth engine multiplied the growth of many of the countries that exported raw materials to Beijing. That has slowed. China’s total debt has grown from roughly 150 percent of its GDP in 2007 to around 240 percent today—a massive increase in one decade that is dampening its growth and its imports and shrinking China’s wallet for foreign aid and investment in African and Latin American commodity-exporting countries. In
Robots can now milk cows. Oil prices have fallen globally, meaning both the petro-states and those indirectly propped up by them are weakened. At the same time, slower growth in China has lately shrunk its voracious appetite for African, Australian, and Latin American commodities. China accounted for more than a third of global growth in recent years, and its growth engine multiplied the growth of many of the countries that exported raw materials to Beijing. That has slowed. China’s total debt has grown from roughly 150 percent of its GDP in 2007 to around 240 percent today—a massive increase in one decade that is dampening its growth and its imports and shrinking China’s wallet for foreign aid and investment in African and Latin American commodity-exporting countries. In
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About Thomas L. Friedman
Friedman began his career as a reporter and won two Pulitzer Prizes in the 1980s for his coverage on conflict in Lebanon and politics in Israel, followed by a further prize in 2002 for commentary on the war on terror.