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January 12, 2009

Does culture drive global trends more than economics?

The US, Russia, the EU, China and India may react differently to the same event. See at Richard Lewis's Cross-Culture, one of our favorite sites, "Culture and the Credit Crunch". I don't think the post supports the thesis that well--but it's an interesting and worthy idea. Excerpts:

The USA, with its risk-taking, speculation and short-termism, is always likely to tend towards boom and bust. But we should never underestimate the USA's supreme ability to bounce back. As staff started filing out of Lehman Brothers for the last time, representatives from other investment firms were filmed outside trying to recruit those leaving. A true demonstration of the American spirit.

How about China? Its march may be held up by temporary obstacles along the way, but it is an inexorable march with an unstoppable momentum.

[W]hat future for the EU? In a crisis, will the key countries hold together? Or will German caution berate Anglo-Saxon profligacy and French pride be hurt by German frankness?

Posted by JD Hull at January 12, 2009 11:59 PM


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