Oil, gas, real estate, sports and high tech. King's nephew and restless investor in Citicorp, News Corp, TWA, Euro Disney and others. The world's economic system is based on debt. Every country in the world is in the red, even the richest and most successful. Most of the money is owed to multinational banks and financial institutions.
Rich countries can ride high indebtedness if there is confidence and investment in their economies.
But poorer countries are crippled by their foreign debts. This is now equal to the international trade between stock markets around the world. Pension funds comprised a third of all US corporate stocks and shares. This year Citicorp and Travelers Group plan the biggest bank merger yet. Most investment in the world is now 'hot' - speculative and very short term.