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East Asias Financial Stability: Is Another Crisis Looming

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... Stability: Is Another Crisis Looming? Wing Thye Woo. Brookings Institution ... Institute of Strategic and International Studies, 5th East Asia Congress, ... – PowerPoint PPT presentation

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Title: East Asias Financial Stability: Is Another Crisis Looming


1
East Asias Financial Stability Is Another
Crisis Looming?
  • Wing Thye Woo
  • Brookings Institution
  • wwoo_at_brookings.edu
  • Institute of Strategic and International Studies,
    5th East Asia Congress, Mapping the Second Decade
    of East Asian Community Building, Kuala Lumpur,
    Malaysia, 2-4 December 2007.

2
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3
Impact of Trade Deficit on US Labor?
4
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5
Greater Churning of Jobs in US
6
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7
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8
Atmosphere is Ripe for Protectionism
  • Size of adjustment 100 pct labor market shock
  • Speed of adjustment fast movement up value-added
    chain
  • Globalization coincides with technological
    changes that (a) worsen income distribution and
    (b) broaden impact of trade on service sector
  • Decline in US political tolerance toward trade
    adjustment in post-Cold War
  • Unraveling of intellectual consensus in USA?
    Paul Samuelsons Alan Blinder's apostasy
  • Post-September 11 syndrome insecure people dont
    make the best decisions, KORUS FTA

9
Atmosphere is also Ripe for a Coming Clash over
the Global Commons?
10
Looming Water Crisis in Asia
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