The more creative capitalism gets, the more destructive it becomes. Industries that do not adapt fail. Worker's skills grow obsolete. Entire production areas lose their competitive edge. In the long run, however, the winners outnumber the losers.
Economies expand and open on a new threshold of mass affluence.
But pain always precedes gain. And sometimes, one wonders whether the gain is always worth the pain. Now, there are those who fear that the reduced purchasing power of the worker, the collapse of the welfare state, the increase in income inequality and the excess supply of goods and labor that exert downward pressures on prices and wages are bringing the world to the brink of another Great Depression. One thing is clear. This financial crisis is no longer East Asia's problem alone.