global rebalancing?

a couple of interesting posts hinting at the growing capabilities of the developing nations:

the first is from the csm, and talks about the rebalancing of world power vis-a-vis post-tsunami relief aid (its an interesting article, check it out if you have the time):

The traditional symmetry of aid that once matched rich, developed donors with poor Third World recipients is now skewing. Victims like India are helping other victims; beneficiaries of foreign aid like China are handing out money and sending doctors to Indonesia; and badly hit Thailand is turning down Europe's offers of debt relief for fear it could hurt its credit rating.
[...]
India, for example, where nearly 10,000 people are reported dead, has raised eyebrows by turning down international offers of help. As the Indian military launched its biggest-ever peacetime disaster relief operation, Prime Minister Manmohan Singh said that he had told President Bush and other world leaders that "as of now we feel we have adequate resources to meet the challenge." He added, "If and when we need their help, we will inform them."

the second article is just a blurb that i saw on john robb's website gleaned from a wsj article that i don't have access too (avenge me!!!):

Saudi Arabia invites Indian companies to bid on exploration and refinery projects. The center of gravity is shifting (Russia, the world's #2 producer, recently invited China to invest in Yukos).