There is a good piece over at Black Commentator, exploring the possible economic consequences of Bush alienating the world.
Only a fool would not assume that last weekend’s St. Petersburg summit of Germany, France and Russia was not consumed with the nuts and bolts of erecting defenses against American geopolitical aggression. And only foolish heads of state would admit it. Every actor in each emerging or mature economy is compelled to pursue alternatives to doing business with America, the rogue state that recognizes no rules but its own declarations. China’s economy has surpassed Japan’s and remains a command system, able to move as a body to favor or disfavor the United States if her political will is tested.
The redlining of the U.S. has begun. Like the banker who smiles broadly as he denies that such a thing as redlining exists, then offers his card and his sincerest Good Luck, the world can simply pretend that nothing hostile to U.S. interests is occurring. The effect will be as devastating as redlining the ghetto, a place that is depressed because nothing good happens there.