Iran has the patience to wait out the West, it knows that it's just a matter of time before the global economy shifts its centre of gravity to the East completely. This story from the Telegraph illustrates that point:
HSBC bids farewell to dollar supremacy, "What is occurring is an epochal loss in the relative wealth and economic power of the old G10 bloc of rich countries compared to rising regions of the world. The euro, yen, sterling, Swiss franc and other mature currencies will be relegated along with the dollar in this great process of rebalancing, but the Greenback will bear the brunt."
Couple that with another HSBC story from today and a clearer picture emerges: UK's biggest company moves boss to Hong Kong, "HSBC, Britain's biggest company, is relocating its chief executive from London to Hong Kong in response to the growing dominance of Asia in its strategic ambitions.
Michael Geoghegan will move to the territory on February 1, the bank reported today.
"The move further positions the group for the shift in the world's centre of economic gravity from West to East, while HSBC's continued strong presence in the major developed markets reflects the increasingly interconnected nature of the global economy and the profile of the group's customers," it said"-TimesOnline
This is why the indecent focus on Iran, the West has limited time to utilize, and ensure it's strategic advantages before it loses all it bargaining chips one by one.
Friday, 25 September 2009
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