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Financial Crisis: US will lose superpower status, claims German minister
German finance minister Peer Steinbrück has slammed Anglo-American capitalism for endangering global stability in its lust for profit and predicted that the US would now be toppled as the superpower of international finance.
In a remarkable outburst at the German parliament, Mr Steinbrück said the world would never be the same after “Black September”....
“The US will lose its superpower status in the global financial system,” he said, predicting a new multi-polar order where power is spread across the globe.
“The financial crisis is above all an American problem...
“This inadequately regulated system is now collapsing, with far-reaching consequences for the US financial market and contagion effects for the rest of the world,” he said..."
Full article at http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3081909/Financial-Crisis-US-will-lose-superpower-status-claims-German-minister.html
