As the world’s economic leaders prepare to gather next week for the annual World Bank and International Monetary Fund (IMF) meetings in Washington, D.C., all eyes scan the global economy for new surprises and perils. As countries wage old and new battles against jittery international investors, economic sages are sharpening their intellectual weapons debating the causes and cures. The “worst financial crisis since the Depression,” as President Clinton characterized it, is notable not only for the challenges facing the “patients,” but for the crisis attending the “doctors” themselves.
PacNet #37 – Global Capital Flows: No Textbook Solution
September 25, 1998