The biggest news that our fearless leaders are ignoring the significance of this morning is the announcement of a new strategic partnership between India and China.
"India and China can together reshape the world order," Indian Prime Minister Manmohan Singh said after a welcome ceremony for his Chinese counterpart, Premier Wen Jiabao, at India's presidential palace.
I went on a blind date a couple of years ago with an economist who firmly believed that in the early part of the 21st century, the United States would no longer be the world hegemon. If this new agreement is any indication, it sounds like he's going to be proven right much sooner than I'd have thought (thanks, GWB).
On Monday, the two leaders agreed to boost bilateral trade to $20 billion by 2008. Last year, trade totaled $13.6 billion, with India recording a trade surplus of $1.75 billion, according to India's trade ministry.
China is keen to develop a free trade area between the two countries. Their combined population is 2 billion, which would make it the largest free trade area in the world. During their talks, Wen and Singh agreed to set up a panel of experts to study the feasibility and benefits that would accrue from establishing such a trade area.
On Sunday, Wen visited the southern city of Bangalore, India's technology hub, and said the two nations should put aside their rivalry and instead pool their resources.
So why aren't our fearless leaders talking about this shift in balance and what it will mean for the USA? Have they, perhaps, not noticed yet, distracted by the dull roar of judicial confirmations and the Terri Schiavo furore? Or are they just afraid to look at the reality; that the US is sinking fast towards Banana Republic-an status at the same time it's losing its hold on liberal democracy?
And which language should I learn? Hindi, or Mandarin?