Things that won't survive the crash...

David Rothkopf outlines "20 things that won't survive the crash" on Foreign Policy magazine's website. I thought I would add a few more. So lets start with ...

21. The Krona and Whalers

After the collapse of the Icelandic banking industry (and subsequent collapse of their governing coalition), there is talk about possibly ditching the Krona and using the Euro. But with joining the EU comes a ban on whaling, so time is running out for those who like to eat "Moby Dick on a stick."

22. The Weak Korean Won

Though the won is currently trading at an 11-year low, fears about Korea's banking system and economy seemed unfounded. The banks hold over 25 billion in dollar- and yen-denominated debt that matures by the end of 2009. However, Korea also hold over 200-billion in foreign-exchange reserves AND has a direct line to the US treasury for more in case of a 'real crisis'. Exports are weak due to the slow down in the US and Japan but the cheap won should raise them in the mid-term. And as US and Japanese products are relatively more expensive, Korea should not have to worry as much about domestic demand. This is the perfect time for Korea to cement trade deals with the US and the EU. Foreign traders and investors seemed to be spooked about all investments in Asia right now, but Korea should be the least of their worries. It won't be long until the currency is bid up relative to the sagging US dollar.