During the state visit by Chinese President Hu Jintao, it was easy to imagine that world politics and global economics had been reduced to a two-power game between a democratic America and an authoritarian China. But the reality is much broader.
Despite talk of American decline, the United States remains the world's largest national economy, at over $14 trillion per year, with a very high per capita income: $41,000. Right next to us is the oft-ignored European Union. The combined economy of
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