Current economic and political developments spotlight the relationship between domestic and global governance and the impact of globalization on both. A key question is whether a sovereign state system, democratic governments, and an integrated global marketplace can coexist. The paper assesses...

In 1997-98 Thailand, Korea, and Indonesia were attacked by international financial interests convinced that the countries were not running their economies properly. The trio had borrowed heavily in hard currency, and were unable to repay their debts, at least in the short term. Money flowed out...