Who has survived the global credit crisis in the best shape? As Chou En Lai said about the impact of the French Revolution, it’s still too early to judge. The snap verdict that China is the big winner and the US and rest of the old G7 are big losers is already looking questionable.
The Greeks have got a lot to answer for. As well as roiling the markets and torpedoing the euro, they have inflicted serious damage on the debate about the global crisis and its remedies.
cons of competitive excellence are supposed to be immune from the failings of ordinary mortals. That was why the fall from grace of Tiger Woods was so disorienting. The evaporation of Toyota’s reputation for superhuman quality is even more shocking. After the eight million vehicle recall, it feels as if something comforting and hopeful has disappeared from the world for ever.
A notable phenomenon of this past year of living dangerously in financial markets has been the triumph of the ultra-bears. Deeply pessimistic commentators such as Nourel Roubini who were previously unknown or had only niche followings have been propelled to rock star status.
Shabu shabu is a simple but delicious Japanese dish in which transclucently thin slices of beef are dipped into a boiling broth of vegetables and tofu. A few seconds will do; just enough for the meat to turn pinky-grey.