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FT.com / World - US `will lose financial superpower status'

The US is poised to lose its role as a global financial "superpower" in the wake of the financial crisis, Peer Steinbrück, German finance minister, said on Thursday as he called for a regulatory crackdown on financial markets.

"The US will lose its status as the superpower of the world financial system. This world will become multipolar" with the emergence of stronger, better capitalised centres in Asia and Europe, Mr Steinbrück told the German parliament.

"The world will never be the same again."

by Fran on Thu Sep 25th, 2008 at 03:16:15 PM EST
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