Here is an interesting take on the GM nationalization from David Warsh via his review of the book
The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World
The burden of the argument of Venturesome Economy is that that an inevitable expansion is taking place in the quantity of high-level know-how that is being developed in countries around the world – not just Japan and Korea, but India and China, Israel and Australia. If the US learns to relax and take advantage of new knowledge developed offshore, everything will be fine. But if “technonationalism” gains the upper hand – in the form of, say, a commitment to a strong US automotive industry, no matter what the cost – then a world carved into trading spheres could experience slower growth than otherwise would be the case.
Hello,from Greece,I do agree. The big picture is that in the global system new centers of growth are already there.We have to understand that the new era will be multi central, even though the US superpower can win some more games by the monetary influence it still has. The Asian giants are waking up and through time they are building the necessary power to sit as equal to the governing table of the world. It might be stressful for us in the EU & US, but they have all the economic factors (labor, money, culture, knowledge, will to work,etc) to build a win-win situation. Thanks, Adamopoulos George, economics.