Report from Malaysia – US Irrelevance?

“Speaking of the U.S., the sense I get here more and more each time I visit is, not so much hatred or dislike of the U.S., but an increasing level of irrelevance. Malaysia is positioning itself to become the Islamic banking capital of the world.”

This from a friend currently visiting Singapore and Malaysia. He goes on to say how Malaysia is establishing itself as an international banking center, especially one that caters to the Islamic world. The anxiety that accompanies the current economic downturn in the United States seems to accentuate the fact that countries around the world are emerging in this era of globalization, and the dinosaurs of the world also need to reshape their global identities, and, in turn, their policies.

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