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Collapse of Pax Americana?
At the moment there is no disputing ‘China’s emergence as the globe’s most powerful economy’ in the future; there may only be debates on how fast it would happen.  However, the western researchers are rather troubled by the other aspect of the issue; will economic supremacy bring forth a change in the world order?

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Another year has just arrived with hope and anxiety amidst the global specter of uncertainty. A few months back we saw our Finance Minister confidently say that there is no stress on the economy, although recently he had to accept that the country is now in the grips of severe economic duress that will haunt us well into 2012. Given the constricted economy, escalating prices, balance of payment gap, subsidy given to import costs of fossil fuels, 2012 does not show any positive signs of economic turnaround.

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Editor : Mahbubul Alam
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