RJ always said that the series is set in this world's future. We do not have magic now, perhaps because we don't have the "Pattern", and "The Dark One". Perhaps some catacysmic event such as nuclear war, or a super ice age, triggers an unraveling of the fusion you speak of, introducing magic and a less free willed fate into the world as preperation for the Dark One's Prison being compromised. Of course, if Rand reseals the bore completely and creates this fusion, then magic will disappear immediately...or dissipate. It would be interesting if in the Outrigger books (if written), we see technology advancing as the various channelers struggle with a swiftly diminishing power source.