10 ottobre 2008

La geopolitica dopo la crisi

Nulla sarà più uguale, parola di Financial Times. La crisi finanziaria di oggi è paragonata a quella che colpì nel 97/98 le piazze asiatiche e la Russia; da allora questi paesi hanno diffidato del Fmi e si sono rafforzati, mentre l'occidente costruiva le basi per la rovina di oggi. Ecco un passaggio:

A decade ago, after the crisis of 1997-98 wrought devastation on some of its most vibrant economies, Asia said never again. There would be no more going cap in hand when the going got rough. To avoid the IMF’s ruinous rules, governments would build their own defences against adversity by accumulating reserves of foreign currency.

Those reserves – more than $4,000bn-worth at the present count – financed credit in the US and Europe. There were other sources of liquidity, of course, notably the Fed and the reserves accumulated by energy producers. It also took financial chicanery to turn reckless mortgage lending in to triple A rated securities. But as a Chinese official told the other day: “America drowned itself in Asian liquidity.”

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