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Strategies & Market Trends : Asia Forum
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To: Worswick who wrote (7339)10/28/1998 8:06:00 PM
From: Dayuhan  Read Replies (1) of 9980
 
Clark,

From the Erdman piece you quoted:

the brief era of an American-sponsored unfettered global free-flow of capital is coming to a sudden end. This does not augur well for anybody. It was just such freedom of capital movements that made possible the rise of the Asian Tigers and China, the brief economic renaissance of Russia, not to speak of the prosperity of Latin America in the 1990's.

Does this mean he feels that the cause of the fall can be somehow divorced from the cause of the rise? That a rise as precipitous the ones we've seen in SE Asia is possible without terminal instability.

Personally, I think that a reasonable and evolving system of limited controls on capital flow would make extremely rapid growth difficult. I also think that somewhat slower growth might be a lot more sustainable. Though he's smarter than I am, and could doubtless prove me wrong.

Steve
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