The idea that UN commitments should be followed by action is indeed a radical one, especially for the United States, where wilful neglect of its own commitments is the rule.
The great leaders of the second world war alliance, Franklin Roosevelt and Winston Churchill, understood the twin sides of destruction and salvation. Their war aims were not only to defeat fascism, but to create a world of shared prosperity.
The longer you wait, the less fun. If you wait until the bitter end, the whole economy can be destroyed.
In Asia, a lot of successful economies that had been living on their own saving, decided to open up their financial markets to international capital in the early 1990s. So here were countries doing quite well, but they decided they'd borrow a bit more and do even better.
It's not so unusual to run out of someone else's currency.
Russia has gone through eight years of continuing economic pain.
Globalization was a deep trend pushed by technology and right ideas, as much as anything else.
We had a booming stock market in 1929 and then went into the world's greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst, and then we enter depression? Well, some things are not different.
The runs started in Thailand after the IMF intervened in such a dramatic way. Then the IMF came to Indonesia.
We've taken the view that if the rest of the world would democratize and create market economies, that would spread the benefits of prosperity around the world, and that it would enhance our own prosperity, and our own stability and security, as well.
In my view, there is an urgent need to communicate with the public and help to explain where there is consensus, and where are there doubts about the issues of sustainable development.
We were proposing, in a sense, that the rest of the world be made safe for American ideas, as they adopted intellectual property rights that gave patent protection to our very innovative economy.
Roosevelt talked not only about Freedom from Fear, but also Freedom from Want.
The debts are unaffordable. If they won't cancel the debts I would suggest obstruction; you do it yourselves.
Devaluations are never easy.
For un-subscribe please check the mail footer.