As China abandons its communist past, he sees the Eastern country continuing to grow as an economy and world trade partner. Meanwhile, Greece's debt crisis and basically socialist leadership is a stark reminder of the problems facing the West.

RT: What the options would be for Greece if it leaves the eurozone. Could Greece become the free market paradise of Europe like Singapore or Hong Kong in Asia?

Peter: Not with its current leadership, unless they do an about face and surprise everybody. Because if you listen to the rhetoric, they're not free market guys. They're socialists over there. I don't see much hope for Greece in that respect. You might think the best hope would be to stay in the eurozone, where they have some discipline, and where they have a currency that people have some confidence in. Even though people haven't been too confident in the euro recently, I think they'd have a lot more confidence in the euro than the resurrected drachma…