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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Z268 who wrote (7266)	10/22/1998 6:04:00 PM
From: Dayuhan	Read Replies (1) \| Respond to of 9980

Steve, I do not recall any caveat in the 80s and early 90s being given to the East Asian economies that if they take all these capital without fully understanding the rules of engagement and potential consequences, their economies could go down the gurgler. I do recall a wave of unfettered capital lending with scant regard for checks and measures on both sides. Good point. It should be recalled that powerful pressures were brought to bear on many of these nations, particularly the less developed ones, to open their economies whether or not they were ready. I find it a little depressing that we still feel obliged to define our options with 19th century terms like capitalism and socialism, despite overwhelming evidence that neither, in pure form, is sustainable. Isn't it well past time for a new paradigm? Steve