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The Thomas Crampton Channel
Stiglitz: China is doing the right thingPosted by Thomas Crampton, February 20, 2009 11:27 PM
Joseph Stiglitz, Nobel-winning economist, gives Thomas Crampton an overview of China's economy and role in the global financial crisis. Factoid: China finances more African infrastructure than the African Development Bank and World Bank combined. |
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Comments on Stiglitz: China is doing the right thing
that Q&A was totally sophomoric--"Principals of Macroeconomics 201."
Stiglitz's Globalization and Its Discontents was a true gem; but 10+ years after the Asian Financial Crisis and even longer since the Russian Privatization fiasco, the IMF and the so-called "Washington Consensus" are the least of the global economy's looming threats, even if Larry Summers is back on the scene.
no one is seriously arguing in the midst of this recession that anyone should be devoting precious capital resources to fighting inflation as a first priority; nor that developing and/or over-leveraged nations should be liquidating forex surpluses to prop up a withering domestic currency.
people took Stiglitz's criticism to heart. but criticism notwithstanding, it's starting to look like the man lacks any positive vision on how to proceed in the midst of a global crisis.
Surprised that Crampton was able to to talk to Stiglitz. Nice catch.
@slowboat:
Be interested to hear your thoughts on what should be done?