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Printing is highly inflationary internally. Globalization hurts for anybody who thinks they can pull it off unless they are a self sufficient nation. We are talking about the current regime. They will be busy controlling their civilians. Hitler coming to power was a result of the economic collapse which resulted in a regime change. Now if we do see a regime change and East Asia somehow manages to extricate itself from being a de-facto part of the US economy what I say would be null and void if the people could be rallied against an external force. But we certainly aren't there yet.
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Regime change has already started.
Ah Bian of Taiwan => Ma ying-jeou - more peaceful, willing to talk to PRC
Bush Jr => Obama - change (to where??)
Blair => Brown - less fiery, may be better...
Fukuda => Aso - better at foreign relations
Something is taking shape, but till '09 we won't be able to tell.
PS. Japan cannot attack on its own, but the US is at its beck and call. Free defence - but at cost to Okinawa residents, like my grandparents.