The global financial crisis presents an opportunity--for the first time in many years--for wholesale reform of the international financial and monetary system. The root causes of the crisis, says Goldstein, can be found in both the financial and monetary spheres and so reforms must be prescribed...

Rarely has the outlook for the Chinese economy been so contested. Th e fi nancial press widely quotes three alternative perspectives on the short- and medium-term outlook. One school argues that the Chinese government's recent eff orts to rein in overly rapid growth are working and that the...

The turmoil that has rocked Asian foreign exchange and equity markets over the past eight months is the third major currency crisis of the 1990s. Its predecessors were the crisis in the European Monetary System in 1992-93, and the Mexican peso crisis of 1994-95.