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A New Strategy for the Global Crisis

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  • C. Fred Bergsten

    (Peterson Institute for International Economics)

Abstract

The "Asian economic crisis" is much deeper, much more pervasive and likely to last much longer than anyone imagined. Economies that had grown 6-8 percent annually for two decades are declining by like or greater amounts, a swing of depression-era magnitude with incalculable political and social consequences. The contagion has already spread far beyond Asia, engulfing Russia and much of Latin America, and could do so even more violently in the days ahead. We now face a truly global crisis, which has already hit the United States hard and will do so with increasing force.

Suggested Citation

  • C. Fred Bergsten, 1998. "A New Strategy for the Global Crisis," Policy Briefs PB98-7, Peterson Institute for International Economics.
    • Handle: RePEc:iie:pbrief:pb98-7
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    File URL: https://www.piie.com/publications/policy-briefs/new-strategy-global-crisis
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    Cited by:

    1. S.M. Naseem, 1998. "Globalisation, Technology, and Asian Economic Growth," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 37(4), pages 401-429.
    2. S.M. Naeem, 1998. "Globalisation, Technology, and Asian Economic Growth," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 37(4), pages 635-659.

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