The thing about globalization is that it involves the whole world. Hence Russia exercises its option to pivot East when faced with an obdurate West.
Bubbles share a core attitude of mind: complete incapacity to recognize that the real world may not correspond to your immediate surroundings. Thus investors become absorbed by manias from tulip bulbs to the South Sea, the internet et al, and fail to realize that ‘asset’ values have fundamentally decoupled from reality.
Read more » http://rt.com/op-edge/160212-russia-china-gas-deal-east/