■"GE Pins Hopes on Emerging Markets: Multinational Firms Expect To See Much of Their Growth From Developing Countries," by Kathryn Kranhold, Wall Street Journal, 2 March 2005, p. A3.
GE says 60% of its future earnings will come from "emerging markets," which is Wall Street code for New Core-and specifically China, India, Russia and Brazil.
"GE's outlook is echoed by most multinationals, many of them rivals such as Simens AG and Philips Electronics NV, and financial-services giant Citigroup Inc." The Old Core markets only offer so much growth and no more, whereas the New Core economies are growth personified for decades to come.
Maybe many in the Pentagon want to make such countries "of concern" in coming decades, but Wall Street is planning a very different future. We need to remember that when we reach for familiar enemy images. There is no long-term future in this pathway. Spout on all you want, but there isn't any long-term future in this for American business.
That's the everything else they consistently forget inside the Pentagon.
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