Roche, David
July 2007
Forbes Asia;7/23/2007, Vol. 3 Issue 13, p107
The author reflects on the 1997 Asian crisis. He notes that after ten years, the situation has been reversed. The U.S. is now where Asia was, while Asia finances the U.S. current account deficit. And as in the old days most of that money flows into highly unproductive financial assets. The difference, according to him, is that the U.S. will not suffer the same fate as Asia during its crisis considering its decent financial institutions and efficient markets and a history of dealing with crises.


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