But China's leaders also face rumblings of discontent from leftist nationalists, who see the downturn as a chance to halt market-oriented reforms at home, and for China to assert itself more stridently abroad.

ECONOMIST: And how the world should see China

The threat to their domestic dominance has encouraged their managers to hone their skills, exposed them to best international practice and spurred them to seek growth abroad to compensate for lost market share at home.

ECONOMIST: A new breed of multinational company has emerged

Washington now controls long-term bond yields, promises low interest rates years into the future, makes bets on trillions of dollars in bonds, dominates the home-mortgage market and regulates myriad aspects of banking and investing in the U.S. and abroad.

FORBES: Pushing Back A Government-Centered Society

The future belongs to those companies that can succeed at investing and manufacturing abroad in countries like China, Thailand, Mexico, and the U.S. And not only manufacture abroad for foreign markets, but also for export to the Japanese home market.

FORBES: The Nikkei to Japan's Manufacturers: To Survive, Invest Abroad