Governments, businesses, and economists have all been caught off guard by the geopolitical shifts that happened with the crash of oil prices and the slowdown of China’s economy. Most believe that the price of oil will recover and that China will continue its rise. They are mistaken. Instead of worrying about the rise of China, we need to fear its fall; and while oil prices may oscillate over the next four or five years, the fossil-fuel industry is headed the way of the dinosaur. The global balance of power will shift as a result.
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Scooped by
Judy Curtis / SIPR
onto Smart Cities & The Internet of Things (IoT) October 9, 2015 1:00 PM
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Vivek Wadhwa's clear-eyed essay is a stimulating read, an ode to the abiding benefits of technology and education, with plenty of proof points about what our near term future looks like. What is brewing from the repeated shocks to our global economy? Are our markets really so intertwined? What about progress in what seems to be chaos?
He makes this point about the end game: "the countries that have invested in educating their populations, built strong consumer economies, and have democratic institutions that can deal with social change will benefit — because their people will have had their basic needs met and can figure out how to take advantage of the advances in technology."