financial crises in the late 1990s: Brazil, Russia, and Thailand. Our findings indicate that financial turbulence in these … countries only spreads globally when they affect asset markets in one or more of the world's financial centers. Otherwise …

Compared with China's dominance in world trade, its expanding role in global finance is poorly documented and … understood. Over the past decades, China has exported record amounts of capital to the rest of the world. Many of these financial … flows are not reported to the IMF, the BIS or the World Bank. "Hidden debts" to China are especially significant for about …