New hope

To parody Andy Warhol, in time every country will be a power nation for 15 minutes. They will skyrocket to stardom developing at outrageous rates. They will get rich, invest unwisely and as fast as they came, recede back into insignificance.

We are witnessing now in Asia the effects of Japan's 15 minutes of glory. In parallel, its sphere of influence is dwindling. As Japan recedes, it creates a vacuum, which is being occupied by the U.S.

That is good for Asia. As we can see in the IMF package, it will do away with the strong presence of the government in the economy. If implemented, as it should be, the measures could herald an era of openness.

In a new competitive environment, one will not need to marry the son or daughter of a well-connected man to be successful. The sole fact that one sat at the same university with a peer who would become a director of a company, will no longer decide how successful an individual's career will be. The best will move to the top on their own merit. That will make Asia's future brighter.

OSVALDO COELHO

Jakarta