Dance of the Trillions
Developing Countries and Global Finance
Brookings Institution Press, 2018
Developing countries are learning from their past mistakes as well as from China’s successes.
Economists and financial professionals will welcome this admirably concise, well-balanced and illuminating history of the relationship between global finance and developing countries. It tells a story of drama, hubris and lessons learned. Economist David Lubin recounts the sagas of the 1970s petrodollar recycling and the 1980s debt debacle, as well as the slide from the Asian Miracle to the Asian Crisis. He traces the rise of China’s economy and explains how the Washington, DC-led liberalization of capital flows is giving way today to a Beijing-led approach of state-imposed controls.
About the Author
David Lubin heads Citi’s emerging markets economics unit, and he is an associate fellow at Britain’s Royal Institute of International Affairs.
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