This & That, Ceci et Cela

“Common wisdom has it that Asia is dreaming if it thinks economies as diverse and as far-flung as China, Japan, South Korea, the countries of the Association of South East Asian Nations and now India can emulate Europe. For one thing, Europe has settled the question of hegemony; Asia has not. “There is no hegemon in Europe,” argues Norbert Walter, chief economist for Deutsche Bank. “There are three in Asia: China, Japan and India.” (Intl Herald Tribune)

-Uh, Europe also has 3 hegemons: Britain, France, Germany. Despite potential difficulties, a common Asian currency would be groovy. Not having to bother with foreign exchange rates and random foreign coins while roaming across the region? Priceless.