[OPE-L:1703] Re: is a crisis in the US economy immanent?

Subject: [OPE-L:1703] Re: is a crisis in the US economy immanent?
From: Gerald Levy (glevy@pratt.edu)
Date: Fri Nov 19 1999 - 18:20:33 EST

Re Akira's [OPE-L:1702]:

Thank for for your response to the Henwood article.

I am interested in knowing what your answer is to the question in the
subject line (i.e. "is a crisis in the US economy immanent?")

One curious development is the extent to which the crisis in South Asian
markets and the banking crisis and recession in Japan have had on the
financial system in the US. What is your explanation for why these
developments haven't had a sharper (negative) impact on the US economy?
If "globalization" is to be believed, shouldn't it be increasingly the
case that when major capitalist economies experience an economic crisis
that their major trading "partners" also experience economic crisis?

In solidarity, Jerry

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