If recession in the eurozone leaves the UK in trouble, it should serve as a reminder of the mammoth work yet to be done on rebalancing our economy.
A House of Lords committee concluded a couple of months ago that the government had not provided evidence that HS2 would deliver either of its claimed benefits of rebalancing the economy and increasing rail capacity.
But imbalances in global trade lie at the heart of the crisis – a new deal for the global economy has to give rebalancing a greater chance of happening.
They are part of a highly choreographed reinvention of Hillary Clinton for 2016 as a political veteran who can relate to everyday Americans and cares more about rebalancing the country's economy than herself.
It is a bit rich of the chancellor to claim he is rebalancing the economy when he is feeding the beast that is the UK housing market.
"We have a number of priorities, and they include ending austerity, rebalancing power and wealth, and bringing an end to this Conservative government, which is pursuing these cuts for ideological reasons.
Many promises have been made, and on Friday the prime minister reaffirmed his commitment to rebalancing power in the UK.
The former business secretary, a key figure in the governments of Tony Blair and Gordon Brown, accused his party of having "language, not policies" for rebalancing the country's economy and political system.
The outlook suggests the government's long-held aspiration of rebalancing the economy away from over-reliance on domestic demand will remain elusive.
China is rebalancing, but not fast enough: services have yet to account for more than half of annual Chinese output.Diverging monetary policies will exacerbate the problem.
And he must do so even as America's changing strategic priorities Mr Obama's partial winding down of the "war on terror" and the new emphasis on "rebalancing" towards Asia require a different kind of military.By next year the Pentagon must deliver its Quadrennial Defence Review (QDR).
