There are times in listening to world leaders that one wonders whether they are being simplistic, blind, naive or even duplicitous in their assessment of the world and its economy.
A recent case in point was when Australian Foreign Minister Kevin Rudd visited Washington, chatted with US Secretary of State Hillary Rodham Clinton and then spoke at the Brookings Institution. In his speech, Rudd stressed the importance of bringing China into international institutions. Rudd’s reason, of course, was that the world economy depended on it. This bears deeper examination.