'It is neither desirable nor feasible for the US to be the world's dominant borrower forever. Indeed it is absurd for the world economy's stability to depend on the willingness of the world's richest consumers to borrow ever more.'The globalisation of finance should have brought substantial benefits. In practice it brought a series of devastating currency and banking crises in the 1980s and 1990s, particularly in the developing world. The failure of advanced countries and of the IMF to rescue the damaged economies of Asia, ...
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'It is neither desirable nor feasible for the US to be the world's dominant borrower forever. Indeed it is absurd for the world economy's stability to depend on the willingness of the world's richest consumers to borrow ever more.'The globalisation of finance should have brought substantial benefits. In practice it brought a series of devastating currency and banking crises in the 1980s and 1990s, particularly in the developing world. The failure of advanced countries and of the IMF to rescue the damaged economies of Asia, Russia or Brazil taught those countries, and the emerging Chinese giant, an overwhelming lesson: never again.Emerging economies ceased importing capital, but by keeping their exchange rates down, running huge current account surpluses, recycling capital inflows and accumulating enormous foreign currency reserves, they began to export it on a vast scale. Since several advanced countries also ran large current account surpluses, to which the oil exporters added their own massive contributions in the mid-2000s, the US emerged as the spender and borrower of last resort.The US is the world's most credit worthy borrower. But as its external deficit exploded, so did the domestic borrowing of US households, stimulated by rising house prices. The result was the subprime mortgage crisis of 2007.The challenge ahead is to promote a financial system that makes fast-growing emerging economies comfortable as large-scale net importers of foreign capital. The key is to acknowledge that, in a world of adjustable currencies, international lending must be denominated in the currency of borrowers, not just in that of a few dominant advanced economies. Only by tackling imbalances in the international financial system is there a chance of global financial stability.
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Add this copy of Fixing Global Finance (Forum on Constructive Capitalism to cart. $2.80, very good condition, Sold by Reuseabook rated 4.0 out of 5 stars, ships from Gloucester, GLOS, UNITED KINGDOM, published 2008 by Johns Hopkins University Press.
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Dispatched, from the UK, within 48 hours of ordering. Though second-hand, the book is still in very good shape. Minimal signs of usage may include very minor creasing on the cover or on the spine.
Add this copy of Fixing Global Finance, 2008 Publication to cart. $4.29, good condition, Sold by Phatpocket Limited rated 4.0 out of 5 stars, ships from Waltham Abbey, ESSEX, UNITED KINGDOM, published 2009 by Yale University Press.
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Good. Ships from UK in 48 hours or less (usually same day). Your purchase helps support Sri Lankan Children's Charity 'The Rainbow Centre'. Ex-library, so some stamps and wear, but in good overall condition. 100% money back guarantee. We are a world class secondhand bookstore based in Hertfordshire, United Kingdom and specialize in high quality textbooks across an enormous variety of subjects. We aim to provide a vast range of textbooks, rare and collectible books at a great price. Our donations to The Rainbow Centre have helped provide an education and a safe haven to hundreds of children who live in appalling conditions. We provide a 100% money back guarantee and are dedicated to providing our customers with the highest standards of service in the bookselling industry.
Add this copy of Fixing Global Finance to cart. $4.69, very good condition, Sold by Reuseabook rated 4.0 out of 5 stars, ships from Gloucester, GLOS, UNITED KINGDOM, published 2008 by Yale University Press.
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Dispatched, from the UK, within 48 hours of ordering. Though second-hand, the book is still in very good shape. Minimal signs of usage may include very minor creasing on the cover or on the spine.
Add this copy of Fixing Global Finance to cart. $4.99, very good condition, Sold by Brit Books rated 4.0 out of 5 stars, ships from Milton Keynes, BUCKINGHAMSHIRE, UNITED KINGDOM, published 2008 by Yale University Press.
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Very good. Simply Brit – welcome to our online used book store, where affordability meets great quality. Dive into a world of captivating reads without breaking the bank. We take pride in offering a wide selection of used books, from classics to hidden gems, ensuring there's something for every literary palate. All orders are shipped within 24 hours and our lightning fast-delivery within 48 hours coupled with our prompt customer service ensures a smooth journey from ordering to delivery. Discover the joy of reading with us, your trusted source for affordable books that do not compromise on quality.
Add this copy of Fixing Global Finance to cart. $5.29, very good condition, Sold by Greener Books rated 4.0 out of 5 stars, ships from London, UNITED KINGDOM, published 2009 by Yale University Press.
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Very good. **SHIPPED FROM UK** We believe you will be completely satisfied with our quick and reliable service. All orders are dispatched as swiftly as possible! Buy with confidence! Greener Books.
Add this copy of Fixing Global Finance (Expanded and Updated Edition) to cart. $7.43, very good condition, Sold by Halcyon Books rated 4.0 out of 5 stars, ships from LONDON, LONDON, UNITED KINGDOM, published 2010 by Yale University Press.
Add this copy of Fixing Global Finance to cart. $9.29, very good condition, Sold by ThriftBooks-Reno rated 5.0 out of 5 stars, ships from Reno, NV, UNITED STATES, published 2008 by Johns Hopkins University Press.
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Add this copy of Fixing Global Finance (Forum on Constructive Capitalism to cart. $9.30, fair condition, Sold by Your Online Bookstore rated 5.0 out of 5 stars, ships from Houston, TX, UNITED STATES, published 2008 by Johns Hopkins University Press.
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