For the longest time, America and Japan have been the Philippine's biggest creditors/donors, trade partners and even cultural soul mates.

But maybe not for too long.

America is in a state of economic decline - a recession hurtling like an oncoming train - and Americans most pessimistic (compared to the last 25 years) during a May survey done by Newsweek.

The phrase: "When your neighbor loses his job, that is recession; when you lose yours, it is depression" ceases to be a funny joke in America today.

America, playing Robocop in unpopular forays into the un-winnable wars in Vietnam, Kuwait (certain extent) and Iraq have somewhat weakened America's moral ascendancy in the world. Her unchallenged political throne after the turn of the 19th century is up for grabs.

It is as if America was a Superman who had slowly swallowed a ton of kryptonite.

The Sub-prime real estate crisis in 2007 that left 1.5 million homes foreclosed and their residual effect of credit rationing and fall in real estate values have destroyed the myth that real estate cannot decrease in value in America after the Great Depression. It has - significantly - and in many places.

With a broken health care system (half of personal bankruptcies due to high medical costs) and job security threatened daily by a creeping recession, America is no longer the bastion of economic stability today. With gasoline up to US$4 per gallon and crude oil forecast to yet hit US$200 per barrel, the American economy is indeed in a stage of rude awakening today.

Even now, Bollywood (India) not Hollywood is the largest entertainment center in the world, Macauan island, has replaced Las Vegas as the gambling Mecca of the world.

The tallest buildings in the world today are located in Taipei and Dubai. America's biggest - the Mall of America in Minnesota- does not even rank today among the world's ten biggest shopping centers.

The biggest refinery is in India while the largest publicly traded firm is in China - not in America. The Goliath tumbling in the twilight of his years?

Likewise Japan, RP's other lover - already an isolationist in terms of being investment-friendly, found her share of the world's economic wealth slide down from 18% in 1994 to a mere 10% in 2006.

A monumental drop, though Japan remains the world's largest creditor.

The Philippines should now therefore consider looking at the new Colossus of Growths today - China, India and Brazil. China, with liquidity bursting at her seams, now appears ready to liberally throw loans our way - but the caveats remain because they choose the Project supplier - as the ZTE-NBN deal exposed. We are looking at buying India's dirt-cheap medicines and Brazil? - We should look beyond importing their beautiful models.

In terms of security, we have long ceased seeing "Red" everywhere.

China and Russia, the communist stalwarts of the Cold War have relatively anemic military might (compared to the USA) and are more interested to get integrated and become wealthy through the global economy. Right now, they don't appear grave security risks even in Asia.

We would shiver more at the horrifying prospect of what a poor but nuclear-armed North Korea (led by an unstable personality in Pyongyang with a newfangled hairdo) will do when she loses her temper over nothing. She is a loose cannon.

Even terrorists of the Islamic fanatic variety (including the Abu Sayyafs) appear to be on the run now - and it is the local rebel movements (the longest in this region) played by the Muslims and the NPAs that pose the real security headache.

It is therefore time for the country to court the good graces of the wealthy nations of the Middle East like Saudi Arabia, Jordan, Turkey, Dubai and Libya - and bring them into the peace process in Muslim Mindanao - which would immensely benefit from their oozing petrodollars. It is time to deal with China in exploring the oil wealth of our seas - no matter how Washington may frown on the idea.

The Reds will have to be dealt in their own terms.

It is time RP instead looks at the growing wealth of the countries in Latin America like Argentina, Bolivia, Venezuela, Ecuador and Nicaragua who are not only declaring themselves "free from imperialism" but are in the position to provide oil and other commodities that our country needs.

Finally, it is time RP seriously considers at forming a true ASEAN bloc - in the context of a United Europe with one currency, one passport. Everywhere, cartels and blocs are formed - charity should begin at home.

In a blink - well, that means a few years in the framework of world history - the globe has changed.

No longer should the Philippines breathe as if she lived in this globe with just two partners - America and Japan. That is neither realistic nor even practical.

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