A report by the International Monetary Fund published by the Financial Times, indicates that in 2013 for the first time the “emerging” countries will produce most of the goods and services in the world. In the past decade the share of world GDP produced by them has exceeded that of the industrialized countries, and within five years will be twice that of industrialized countries. The change in the balance of the global economy is so great that any company that concentrates its activities in the economies stabilized, in other words in the industrialized West , “is living in the past ,” says the newspaper of the City. The power of Chinese growth, says Richard Dobbs , director of the McKinsey Global Institute is now “a thousand times stronger than that of the United Kingdom at the beginning of the industrial revolution.”
Conceived specifically for the exhibition “The Year of the Dragon, Moving Image in China” did at the Museum Luigi Pecci in Prato – by the way, Prato houses the largest Chinese community in Italy – Otto is a work that reflects ironically on the decline of the European economies. Eight Euro coins from 1 cent to form a small sculpture at the center of a very large wall of the museum. The coins are attracted by a small magnet that holds them together. The magnet generates a magnetic field that attracts some particularly permeable materials, such as iron. Eightclearly shows that the euro is not a currency consisting of noble metals but mainly iron.