Changing times

 I think that China is going to be a greater and greater force in the world’s economy in every way.  And I think that in our relations generally with them, we’ve often had a superior attitude about things … Americans do that all the time.  I probably do it myself.  We are used to being King Pin and, we may have to learn a bit more humility.  I mean, there are other major countries in the world that do not have to accept orders from the United States.

— Warren Buffett

He also sees a “fairly significant” chance of the US going into a recession.