How the West was humbled

The double whammy of the subprime market crisis followed by the deepening financial crisis has seen a remarkable change in fortunes among the vanguard of economic power. Recall British Prime Minister Gordon Brown’s visit to the Gulf in November to essentially beg for money to help shore up Britain’s ailing industry. Not even a year ago, such a trip by the leader of one of the world’s leading financial centers — and accompanied by 27 senior business executives — would have been unthinkable. Rather the trip would have been about cementing economic relations, making some speeches about the value of the free market, a veiled reference to democracy and the hopeful flogging of British goods, services, and weapons. But these are different, more difficult times and pride is making an exit, replaced with knitted brows and forced smiles of gratitude — if the money is made available. And perhaps rather