Not to pick on Thomas Friedman too much, but this is just a perfect example of why his columns should never be taken seriously. Ever. Here's Friedman:
We're all connected. "Decoupling" is pure fantasy.And here's the IMF:
There is evidence of business cycle convergence within [both industrial countries and emerging economies], but divergence (or decoupling) between them.I wonder if Friedman's trademark over-the-top optimism will turn into over-the-top pessimism if we go into a deep recession.