Global predictions for 2008
DAVID OLIVE
"Avoid making predictions - especially about the future." -Sam
Goldwyn
The Summer Olympics and spectacular new Beijing architecture erases
the tainted-import stories of 2007.
Dynamic French president Nicolas Sarkozy emerges as the leading voice
for Europe, abetted by British PM Gordon Brown, less of a Europhile than
his predecessor.
The recent addition to Europe's passport-free Schengen zone of nine
members, bringing the total to 24 countries with 400 million people,
prods a 2008 expansion to include Switzerland, one of the world's most
isolationist nations.
This increases pressure on Britain to join on economic grounds of
lower transport costs, and on Russia not to thwart Ukraine, Romania and
other former Soviet satellite states from membership in an economic
power bloc already eclipsing the U.S.
Afghanistan and Pakistan's western border region finally become the
central front in the struggle against terrorism by Islamic extremists,
as they should have been from the start.
The pro-U.S. Sarkozy sends additional troops which, in contrast with
the current French concentration in relatively stable Kabul, are
deployed in the more dangerous east and south, bolstering Canadian and
British forces in Kandahar and Hellmand provinces.
Britain increases its troops in the southwest, and Australia joins
the cause. The U.S. steps up its redeployment of forces from Iraq to
Afghanistan.
In part to enhance his party's electoral prospects in Quebec, Stephen
Harper unveils a revamped reconstruction and humanitarian-relief program
for Afghanistan.
In referenda, Colombia and ethnically divided Belgium narrowly vote
against national breakups. Kosovo and Chechnya continue to lack
sufficient outside support to separate from Serbia and Russia,
respectively, although Kosovo unilaterally declares its independence. 7.
Newly elected Russian president Dmitry Medvedev, 42, is predecessor
Vladimir Putin's puppet, as expected, but the Deep Purple music fan
starts calling his own shots by year-end.
Kevin Rudd, new Australian PM after defeating John Howard last year,
rejects Australia's George W. Bush-granted status as America's local
"sheriff." The Aussies continue their decades-old humanitarian and
conflict-resolution work in the Solomons and elsewhere in the region but
on their own terms.
Stephen Harper forms a second minority government in a fall election.
Stephane Dion retires from the Liberal leadership after a miserable Grit
showing.
In a narrow victory over John McCain, Hillary Rodham Clinton is
elected 44th U.S. president.
Barack Obama accepts president-elect Clinton's offer to nominate him
U.S. Secretary of State.
Food is the new oil. Biofuel and developing-world demand will keep
soaring prices for wheat, corn and other agricultural commodities high.
Investors like fertilizer giant Potash Corp., grain handlers Agrium and
Viterra (the former Saskatchewan Wheat Pool), and farm-equipment makers
Deere, Caterpillar and Case New Holland gain.
Nuke stocks glow. North America is slowly shedding its wariness of
nuclear power, also poised for big gains in Europe and Asia. Investors
go for uranium producers including Canada's Cameco, and turbine makers
GE and France's Alstom.
Safer than sorry stocks are in favour amid continuing upheaval in
capital and equity markets. Sound "buy and forget" stocks include GE,
Procter & Gamble, PepsiCo, Shoppers Drug Mart, United Technologies
(Otis, Carrier, Pratt & Whitney) and reasonably priced utilities.
GM emerges as an unlikely turnaround play, as benefits begin to kick
in from production cuts, reduced healthcare burden and more vehicles
with showroom appeal.
With a massive oil discovery off its Atlantic coast this summer,
Brazil is poised to attain the status of an OPEC producer, and may well
join OPEC by 2010.
Rupert Murdoch, whose long ownership tenure at the Times of London
has not restored the Times' prestige, surprises fretful journos by
making only cosmetic changes to his newly acquired Wall Street Journal.
Oscar loves Atonement.
Toronto Star |
