Arvind Subramanian has a new article on the financial crisis in emerging markets. He focuses on some of the differences between the 1997-98 crisis and the present day. For one, increased global trade makes emerging markets more susceptible to economic conditions in wealthy nations – and, as we all know, those conditions are considerably worse now than ten years ago.
Paperback On Sale February 12
"A major and timely contribution to a national debate that will only get more heated in the years ahead."
—Mohamed A. El-Erian, CEO of PIMCO
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