parihaka,
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one far more critical to the world economy
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minor quibble here: east asia, including the metropolises in SK, japan, and china, are far more critical to the world economy.
oil is important, but relatively less so than before. the middle east as an oil source, too, is less important than before as people have diversified out of them. case in point, in the last decade the world economy grew at the fastest rate in all of recorded history despite massive increases in the price of oil.