is the US economy still an admittedly smaller elephant in the...

is the US economy still an admittedly smaller elephant in the room? Obama's stimulus package has served to quieten the hounds but an overall analysis by most sees it as an election ra-ra. The economic cuts he wants to fund it have yet to be passed have they? I saw TV coverage of him giving the Europeans a serve re getting their house in order - pot calling the kettle black, in everyones opinion. Nothings really changes in the US really except the cobbling of the US media re the fact that must stop scaring everyone sh...less, which seems to have noticeably worked as all eyes seem to be concentrating on Europe atm. China, on the other hand, I believe, has the ability atm to pull the strings on the worlds economic puppet stage. And it has started doing so. I agree with many, that while they report some slowdown, their burgeoning population will dictate otherwise. They are playing the economic woes of the rest of the world for all they can get. I don't think it's a matter of anyone or everyone refusing to play with them either. Australia economically, despite the best intentions of our current government is one of the best positions to tag along on China's coat-tails and screw the rest of the world, if that's what we want. I don't personally think we should jump into bed with them, but Gillard's China analysis in the weekend press at least indicates the game is on. Whether her government has what it takes to dance with the devil is questionable. I imagine it will be a slooow foxtrot. Anyway, my 2 cents worth.