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Europe has a history of this kind of product--substance and bling--and it has a new currency that is rising in value, but it remains very costly to produce any but the highest margin things in Europe. China and India have all the right ingredients to design these kinds of products, but it remains to be seen whether the cultural legacies of both places will permit it. My guess is that they will over time, but that it is not clear that substance and bling in Chinese and Indian culture will turn out necessarily to be recognizable as such in the EU and soon to be NAU (North American Union). West is west and east is east in some things, just as USA is USA and Europe is Europe, or just as France is France and England is England in some things. Frankly, South America, which fully welched on its debts to the USA/UK dominated central banking system over the last decade, may be a likely place for this to happen also. It is trying hard to move toward its own oil-backed central banking and common market system presently and may soon be in an excellent position to try this substance and bling approach to products vis some institutional assistance. They have cultures with their share of taste for bling in the Western tradition. They have an enormous unemployed population desparate to go to work. And an excess of all resources needed to create a vital economy. But overcoming several centuries of colonial subjugation is not easy, because the police and judicial systems necessary to enforce contracts with at least minimal rationality do not emerge suddenly, because of the legacy of corruption that has operated in these societies for so long, often through the enabling of the colonial powers that saw no interest in assisting the emergence of a modern economy in such places. Don't get me wrong. I do not think substance and bling is a new idea. Far from it. I think it is an old idea. I just think North American and European designers and producers have gotten away from it and that it may be time in certain parts of the global economy to get back to it.
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